NZDJPY Local Resistance| Swing High| Price Action| Trend
Evening Traders,
Today’s analysis – NZDJPY- trading below its Local S/R where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Resistance
.618 Fibonacci Confluence
- Swing Low Objective
- Low Volume
NZDJPY’s immediate price action is trading below resistance with technical confluence being associated with the .618 Fibonacci, allowing for a short bias.
The immediate objective is the swing low, exceeding this level will increase the probability of further downside.
The current volume profile is below average, and influx is highly imminent when an expansion occurs.
Overall, in my opinion, NZDJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee
Today’s analysis – NZDJPY- trading below its Local S/R where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Resistance
.618 Fibonacci Confluence
- Swing Low Objective
- Low Volume
NZDJPY’s immediate price action is trading below resistance with technical confluence being associated with the .618 Fibonacci, allowing for a short bias.
The immediate objective is the swing low, exceeding this level will increase the probability of further downside.
The current volume profile is below average, and influx is highly imminent when an expansion occurs.
Overall, in my opinion, NZDJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee