NZDJPY → A false breakout of resistance will trigger a declineFX:NZDJPY entered a correction phase after a sharp decline. The main trend is downward, with a countertrend movement aimed at consolidating potential before further decline.
A countertrend correction is forming against the backdrop of the main downward trend. The current movement may be aimed at hunting for liquidity before continuing its movement. Focus on the resistance zone at 86.67
The currency pair is trading below key resistance within the global downtrend. As part of the correction, the price may test 86.67 - 87.10 before continuing the main trend.
Resistance levels: 86.67, 86.97, 97.11
Support levels: 85.97, 85.6
If a false breakout of the key zone of interest forms during the correction without the possibility of continuing growth, we will receive confirmation that the market is ready to move down. Consolidation below the level may trigger a downward impulse.
Best regards, R. Linda!
