NZDJPY Huge long-term bullish signal emerged.

hace 4 díasThe NZDJPY pair gave us an excellent sell signal last time (July 10, see chart below) and not only hit our 95.580 Target but broke below and invalidated the medium-term Channel Up:

The long-term Channel Up however, is still intact and it is evident on the 1W time-frame where the July-August sell-off found support and stopped exactly on the 1W MA200 (orange trend-line).

This alone is the first long-term buy signal. The second is a double one and will be given if the price closes above the 1W MA50 (blue trend-line), which has already rejected the uptrend twice since August and the 1W MACD forms a Bullish Cross. As you can see on this chart, every time the 1W MACD Bullish Cross coincided with a price closing above the 1W MA50, it was the strongest buy confirmation since 2020.

So if that confirmation is achieved, we will turn bullish with our Target being 102.000 (+18.31%, the minimum Bullish Leg rise within the Channel Up).

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