NZDJPY H1 SHORT PRICE ACTION FORECAST

Price action has been compressing, forming a triangle pattern. And from the D1 domain price has respected the descending trendline, finding rejection from that level. Technically speaking, the pair looks under bearish momentum after the consolidation with the formed pattern.

Short entry at the 4th touch is placed with the following characteristics.

The order:
Type: sell-limit
S/L: 24 pips - R:R | 1:2.6 -
T/P: next support from previous consolidation level

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