NZD/JPY buyers revive and the cross closes above the 20-day SMA

In Wednesday’s session

Sentiment is: Positive

Technical Analysis

NZD/JPY was identified at around 88.687 having recently rebounded of the support on the 1 hour data interval. Ultimately, the price action of the stock has formed a Rising Wedge pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 89.0325 level.

NZD/JPY approaching resistance of a Rising Wedge

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