NZD/JPY TECHNICAL ANALYSIS 18/6/2020

Pair respects major uptrendline, based below key level at 70.05
Above SMA 100 and 200 on H4 frame
MACD shows bearish momentum
RSI is below level 50
Below HVN at level 69.59

First scenario: in case price break minor uptrendline and close below SMA 100 on H4 frame,
it's recommended to open short position to target major uptrenline around level 66.50

Second scenario: in case price respects minor uptrendline and cloe above key level at 70.05,
it's recommended to open long position to target supply zone at level 71.60 then target next
resistance level at 73.40

We recommend not to buy or sell only after knowing which scenario will be followed

S1: 67.95
S2: 66.10
S3: 63.75
Pivot: 69.00
R1: 69.95
R2: 71.30
R3: 73.40