NZDJPY has successfully broken out of its descending channel resistance and closed above a key horizontal level, signaling strong bullish momentum. The breakout of the major trendline adds confluence to the upside bias, increasing the probability of a sustained move higher. While no clear pattern is visible, the structural shift indicates potential trend reversal, with buyers stepping in aggressively. If price holds above the breakout zone, we could see further upside toward the next resistance levels. However, a retest of the broken resistance as new support would offer an ideal entry point, with stops placed strategically below key levels to mitigate risk.
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