ZARJPY, Bearish Triangle-Formation, Declines Incoming!

Hello,

Welcome to this analysis about ZARJPY, we are looking at the 4-hour timeframe perspectives. As when looking at my chart we can watch there how ZARJPY has developed this bearish wave-count to the downside and has now formed this bearish symmetrical-triangle-formation marked in my chart with the black boundaries. Within this formation, ZARJPY has the coherent wave-count almost already completed and has the 100-EMA as strong resistance. All these factors give the indication that the triangle-formation will complete in the next times bearishly to the downside, when this happens it will be the set-up for the bearish continuations to the downside and the activation of the main initial target-zone at the 7.45 level marked in my chart in blue. When this level is reached it has to be elevated how ZARJPY continues and if there comes a potential reversal or further heavy bearish declines will follow up.

In this manner, thank you for watching my analysis about ZARJPY and the bearish triangle-formation-breakout likely to come up in the next times with the targets to be activated, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!
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Comment:

ANALYSIS UPDATE: ZARJPY completed the triangle breakout with a massive bearish momentum to reach all of the target zones within the schedule.