FX:NZDJPY   New Zealand Dollar/Japanese Yen
92 2 1
After it had been hard pressed downwards, this market managed to recover up to the last swing high, where it met with another pressure. The style of the recovery tells us that there have been approx. six instances of the bears' efforts to press it down again. Finally they made it more substantially at the top and upon another recovery repeated the pressure. It's become quite choppy now, but I expect it eventually to break the bull trend line and make it at least to the blue support level .
However, if the bull trend line holds, the resistance above gives in and the gray fork is finally abandoned (on close), it may be a significant change in behaviour and things will start looking very bullish here.
So if aint going up, its going down. nice :D
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ForceFollower Ozayevable
Thanks for comment. :-) It may take some patience to wait it out, but the JPY has recently been relatively oversold, so at least a bit of its strengthening is very likely.
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