NZD/JPY is heading towards the resistance line of a Rising Wedge and could reach this point within the next 19 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels. Supported by Upward sloping Moving Average
Chart 4 hour
Pattern Rising Wedge
Length 25 Candles
Identified 05-Sep-2022 12:00 UTC