A usual, we employ the top-down analysis system to analyze our charts. Today our focus is on NZD/JPY Intraday.
Monthly chart- is on a bullish trend, ranging within a channel
Weekly chart– also shows a bullish trend in a similar channel
Recommendation: On the 1hr time-frame, we also have imperfect triangle formed, a setup for a potential breakout. Therefore price could either breakout downwards towards the channel line drawn from the higher time frames, or it could also breakout upwards from here.
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