TradingView
Mihai_Iacob
Sep 8, 2020 3:05 AM

NzdJpy- False break can lead to a steep drop Short

New Zealand Dollar/Japanese YenFXCM

Description

Last week NzdJpy traded for just one day above 71.50 resistance. The break proved to be a false one and a strong bearish engulfing followed.
Usually, false breaks announce strong reversals and I expect the pair to drop to recent rage support at 69 zone.
Sell trades around 71.50 have a great R:R
More