justatrader
Short

NZDJPY - A Counter trend trade idea

FX:NZDJPY   New Zealand Dollar/Japanese Yen
153 0 1
Price is above 200 EMA on Daily. This is a counter trend trade. Lot of bearish signs on H4 chart.

1. Looks like bearish flag formation
2. Head and Shoulders (continuation) .... in the making
3. Lower highs at 38.2 and then 23.6
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BE or partial profits at daily EMA 200 level (which could change depending on how slow/soon price continues to drop.
Target is a rounded off level of 85.5
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