NZD/JPY:
Date: 4 January, 2017
H4 Graph: Long Trend
Price made a correction down almost to Fib 38,2% and after a consolidation between 80.900 и 81.75, now it seems its ready for long again. Several higher lows and higher highs is showing us that the correction might be over. Price continue to trade above the 50/200 ЕМА. Horizontal 80.95 and diagonal supports.
Price Action: Higher highs and Higher lows. Tendensy for long
DEM (14) - Still not in the oversold zone
Alternative scenario: If the price moves lower again and passes below the diagonal support and the previous low, will cancel the bullish view.
Price for Entry long around: 81.600
SL: 81.10
Jr. Trader - S. Fuchedzhiev
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