MtxTrader

NZDJPY Year of the Short

Short
FX:NZDJPY   New Zealand Dollar / Japanese Yen
After considerable Yen weakness, xxxJPY pairs rose hundreds of pips. It seems like too unsustained of a move to me, so when such a strong short setup appears as shown above, It seems a very good opportunity.

Price reached a significant horizontal resistance zone

Price has made contact with the resistance trendline and shown a spinning top (inverted hammer?) candle, followed by a bearish confirmation to short.

This is as good as it gets, and even the indicator is in the upper band, indicating an exhaustion.
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