NZDJPY Short idea
Higher timeframe analysis shows NJ has been in a strong bearish trend
Current price action is currently ranging within a rectangle around the daily 50% fib level and monthly support around 69.00-69.900
A strong bearish setup breaking the rectangle and pushing down through the moving average and monthly support followed by a retest would be enough confirmation to short
Targets for this trade will be the daily -27% fib around 65.15 followed by the weekly support level around 64.250
Higher timeframe analysis shows NJ has been in a strong bearish trend
Current price action is currently ranging within a rectangle around the daily 50% fib level and monthly support around 69.00-69.900
A strong bearish setup breaking the rectangle and pushing down through the moving average and monthly support followed by a retest would be enough confirmation to short
Targets for this trade will be the daily -27% fib around 65.15 followed by the weekly support level around 64.250
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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.
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.