themarketzone

Bearish Harmonic scenario still hold but bullish potential exist

FX:NZDJPY   New Zealand Dollar / Japanese Yen
$NZDJPY broke out of it daily downtrend line over the last trading week.
This pair created a strong daily support zone between 80-81 (see details in the chart).
However, since there are two harmonic patterns that are still valid, there bears may not have said their final words..

The bullish and the bearish scenarios are shown in the chart:

Tomer, The MarketZone
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Comment: Nice bounce from the Buy Zone last week. We will have to monitor again this week
Comment: Consolidation below resistance. Next move will be a strong one
Comment: Reached bearish Target Zone
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