NZDJPY Is Bearish! Short!

Take a look at our analysis for NZDJPY.

Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The price is testing a key resistance 93.668.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 92.698 level.

P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.

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Comment:

Great beginning for a trade, let’s hope it goes further!