If stocks would come lower then this may have an impact on XXX/JPY pairs still. NZDJPY is looking weak at the moment, possibly completing flat in 2? A little bit too soon, but can become even more interesting.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Note
As expected NZDJPY turned sharply lower after completed flat correction. So, price can be now unfolding a five-wave decline and can be headed towards new lows, especially if we see a drop on stocks.Note
NZDJPY is nicely bearish, now unfolding sub-wave 5 of one; once current wave one fully show up, a new temporary correction as wave two may follow.Note
As expected, NZDJPY nicely lower, but much sharper and more impulsive, so we assume that NZDJPY wants to break below wave (B) swing low at 75.50 level, before it turns higher into a correction. Anyhow, long-term we remain bearish, so any recovery will be just a temporary correction within downtrend.
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