fxhassan

NZDJPY trend line & price action analysis

Short
OANDA:NZDJPY   New Zealand Dollar / Japanese Yen
Price broke out of descending trend line resistance & approached to horizontal resistance, price also made double top which is reversal pattern. so maximum possibility for price is to reverse all the way back. price is also supported by ascending trend line so if price break this trend line support then short entry is confirmed. on the contrary if price broke out of horizontal resistance then price will go up. kindly make sure your short entry by bearish engulfing or bearish pin bar. and long entry after retest of broken resistance as support
Thanks
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