NZDJPY Will Move Higher! Long!

Dec 15, 2023

Take a look at our analysis for NZDJPY.

Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The price is testing a key support 87.994.

Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 88.507 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!

Dec 16, 2023

Note

Great beginning for a trade, let’s hope it goes further!