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Price Action Setups: EURNZD and USDJPY

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EURNZD is coming to the end of a terminal wedge on the 4 hour chart. The pair has been in an uptrend since July, but it’s important to wait for a close outside of support or resistance before acting.

From here we have support around the 1.590 area and resistance just above at 1.629. Note that the first resistance level is just about 100 pips from a possible breakout area. The second resistance level comes in at 1.6515.

Summary: Watch for a close outside of the 4 hour wedge and wait for a retest with bullish or bearish price action as confirmation. Key support comes in at 1.590 with resistance just above at 1.629 and 1.6515.

eurnzd 4 hour forex chart

USDJPY analysis

usdjpy daily forex chart

 

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3 comments
$@h!l says

which signal we hav to look in 4 hour timeframe when the setup(EURO/NZD) will break

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$@h!l says

Thanks…. JB 🙂

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