NZDJPY: Sell Opportunity

Price completed a perfect channel, reversed back and broke the 240 min trend line. I was waiting for the retest of the 61.8% Fib.Ret before any sell setup but price found a strong zone at 50% Fib.Ret. Anyway price can extend up to 80.70 only if it is making an expanding flat for the small wave.
We have divergences and in overall the structure looks like a three wave correction. I am waiting for a small bearish flag before selling NZDJPY.

Good Luck!

Comment:

Daily Chart

Comment:

Price completed a bearish Bat pattern on 15 min chart and there is also a potential bearish Cypher pattern if the X leg of the Bat will be violated. Keep stops above X leg.

Comment:

Price respected the second scenario and created and expanded flat on the last wave and is near 61.8% at 80.70 price and also is testing the daily resistance trend line.
We need a bearish pattern before any sell. Second attempt to sell.