Let’s take a look at another one of our favorites - the NZD/JPY. We haven’t touched on this pair in a while but we’ve been in a sideways channel since early 2010.
When we see a sideways channel like this, it appears to be potentially forming a loose Contracting Triangle and once complete, will potentially continue the previous bullish trend.
Also, the longer it channels, the bigger the breakout will be most likely be.
This is also a time for people that like to trade sideways channels to apply their methodologies and techniques of trading them.
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