Sell NZDJPY Channel PatternThe NZD/JPY pair on the M30 timeframe presents a potential selling opportunity due to the presence of a bearish channel pattern.
Sell Entry: Consider entering a short position around the current price of 91.65, positioned near the current price within the channel.
Target Levels: The initial bearish target lies at the 91.15 level, which represents the previous support line within the channel. Further downside targets could be determined using other technical analysis methods like Fibonacci retracements or extensions.
Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the channel, ideally around 91.85. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
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