NZD/JPY Trading Analysis (17/06/2024)

The overall trend is upward. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals oversold conditions. The entry point is forming at the pullback B with the truncated C.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the downward truncated structure.

Stop-Loss under the local minimum of the downward structure at 96.390.

Price targets at 96.730 and 97.110.

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