Money Making Opportunities-NZDJPY(5-9 Aug)

📍 NZDJPY Analysis
APE Approach: Analyze, Plan, Execute
Analyze
• Weekly Chart:
o Break of uptrend channel; support turned resistance.
• 4-Hour Chart:
o Immediate retest level at 98.22 for a potential shorting opportunity.
• 1-Hour Chart:
o Immediate resistance level at 88.55.
Plan
• 4-Hour Chart:
o Monitor for a retest at 98.22 to consider shorting.
• 1-Hour Chart:
o Look for resistance setup at 88.55 for potential shorting.
Execute
1. Shorting Opportunities:
o 4-Hour Chart: Short if the market retests and confirms resistance at 98.22.
o 1-Hour Chart: Short if resistance is confirmed at 88.55.
Summary
• Overall Trend: Support has turned into resistance following the break of the uptrend channel.
• Key Levels:
o Resistance: 98.22 (4-hour), 88.55 (1-hour).
Ensure to adjust your chart and focus on these key levels for precise trading.
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