After completing its bear cycle, NZD/JPY is in a bear cycle now. We expect the last leg of the corrective wave, wave 3, to commence from here. Hence traders can rollout shorts from here.
@traderpulse, good call, I didn't get in early on this one though. Not sure what it's doing now. A couple of reversal candles on 1hr makes me tentative. Close to a .236 Fib line too, which it's been dancing around for a while:)