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May 7, 2020 7:30 AM

NZDJPY - Selling strength this morning Short

New Zealand Dollar/Japanese YenFXCM

Description

[Pending] NZDJPY is Bearish - We look to Sell at 64.46

▪️ Short term momentum is bearish.
▪️ A Fibonacci confluence area is located at 64.52.
▪️ Bespoke resistance is located at 64.46.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 64.46, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.

Stop: 64.76
Target1: 63.56
Target2: 63.00
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