Nice idea on NZDJPY and there may be potential gains as you have identified by going short. We have found a major support target at 73.896, which nicely coincides with your 50% Fibonacci retracement. It is a horizontal swing low support, with 50% Fibonacci retracement and 61.8% Fibonacci extension. Ichimoku cloud is also showing signs of bearish pressure in line with our bearish exit. RSI is also seeing a bearish exit and we might see a corresponding drop in price should it react off this level. Excited to see how things develop.
Please take a look at our idea and share with us what you think.
Please take a look at our idea and share with us what you think.