Description
⋅ This pair to me is screaming to sell either now or very soon.
Look how closely the price has respected the mid point of this descending channel.
It was a buy at the second leg of the double bottom, bulls will be taking profit soon and thus a retrace will be in order to retest the double bottom.
Picking between NZD and JPY, two of the weakest currencies is a risky endeavor and is best left alone.
This is a low probability buy that has a significant chance of consolidating before another run at the bottom of the channel.
The only benefit I see from a long here is the positive swaps you will collect.
Trade Safe and make your own analysis that meshes with your trading plan.