NZDJPY: Bottom forming, buy confirmed above the 1D MA50.

25 ก.ย. 2023NZDJPY is trading inside a Channel Down with the price rising after a bottom check in the past 20 days. The 1D technical outlook is neutral (RSI = 53.482, MACD = -0.002, ADX = 31.647) meaning that if this is a bullish reversal inside the Channel, there is still time to enter.

The trigger signal will be a cross over the 1D MA50, that will be our entry and our exit an RSI reading of 65.00 and over. We estimate the target to be roughly under the 0.618 Fibonacci level so until the RSI hits 65.00 we will set the target accordingly near the top of the Channel Down (TP = 0.61850).

Prior idea:

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