The most interesting pair you can make money with - NZD/JPY

NZD/JPY: bullish ranging on reversal. The pair is on bullish market condition located above Ichimoku cloud in the primary bullish area of the chart near the reversal bertween the primary bearish and the primary bullish area of the chart. The price is ranging within the following key reversal support/resistance levels:

• 82.67 resistance level located above Ichimoku cloud in the bullish area of the chart, and
• 79.33 support level located on the border between the primary bearish and the primary bullish trend on the chart.
  

The reversal bearish support level is 76.78, and if the price breaks this level from above to below so it will be fully reversed to the bearish market condition without ranging and with good possibility to breakdown.

There are 3 simple scenarios for the price movement for the week:

• bullish trend will be continuing in case the price breaks 82.67 resistance on close bar,
• bearish reversal to be started with the secondary ranging (the price will be inside Ichimoku cloud) in case the close daily price breaks 79.33 support from above to below,
  
• bearish breakdown in case the price breaks 76.78 support,
  
• or the ranging within the levels.
  

Chinkou Span line is breaking the price to below for possible breakdown.