justatrader

NZDJPY - Short term correction under way (Follow Up)

FX:NZDJPY   New Zealand Dollar/Japanese Yen
125 0 0
This is a follow up to the original trade idea posted here:
An experiment with relative volatility index - NZDJPY


Price, as expected has reacted to prior S/R levels. Expect to see some retracement underway before price can push lower. I'm targeting 81 levels as the final target for this correction to the uptrend. The shaded red area looks like a big support level in place and only if this is cleared, can price be able to push lower.

Monthly charts is painting a nice dark cloud cover pattern. Maybe price will consolidate into next week before preparing for the next move.
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