NZDJPY After completing a bearish Shark pattern at 87.59, the pair has been in corrective mode and is now testing a critical support at 85.05 — which also serves as the neckline of a potential head and shoulders formation.
A clean break below 85.05 would confirm the pattern and likely open the door for a deeper move toward the monthly fractal support at 83.05. This level remains a key downside target if bearish momentum accelerates.
🧭 Key Levels:
- Neckline Support: 85.05
- Bearish Target: 83.05 (Monthly fractal)
- Invalidation: Recovery above the "head"
📌 Neckline holding for now, but structure favors downside if broken. Watch for confirmation.
Happy Trading,
André Cardoso
Harmonic Patterns | Market Analyst | Forex Analytix | Porto, Portugal
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Harmonic Patterns | Market Analyst | Forex Analytix | Porto, Portugal
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.