Jsarm727

Bullish hammer on 4h of NZDJPY

Long
OANDA:NZDJPY   New Zealand Dollar / Japanese Yen
Using the fib retracement tool from the last dip we had to the recent top, it looks like this pair has reached the 50% retracement . Looking to if a bullish hammer candle is forming to get a potential confirmation that the pair is going to reverse from here. If we do reject the current area, there is a good chance that this pair will likely target 80.000 as the next major resistance.