Ascending Scallop forming on NZDJPY
April 16, 2015
1 min read
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NZDJPY is showing a form of ascending scallop pattern and it is getting close to the region it might reject ( around 89.70 ). If it rejects we could see so called “handle” formed that will lead to anoher leg of buying towards 90.30 and 90.75. Ascending scallop handle should have a confluence at 89.70 region with DPP, 50.0 and previous breakout point. If the pair stays above 89.50 handle will be confirmed else the pair might break out to the downside.
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read the original article on AdmiralMarkets.com
