NZDJPY is approaching key pivot resistance at 79.212.
As the price of NZDJPY is approaching this resistance from an overextended move without proper correction, I expect this test to fail and a higher correction to be seen.
Short the resistance.
From our previous NZDJPY analysis, the pattern has changed a little bit. We have now seen a double top and bearish price action and we can now take this down to the bottom of the descending channel. We could still see some resistance at the daily level but once we break it, we can gain another entry on the retest of that level.
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#NZDJPY has went up from the support confluence
Just as I predicted in my previous analysis
And is now retesting the strong horizontal resistance
From where I am expecting a pullback
To retest the rising support
nzd/jpy create ab=cd pattern.So,now its pullback and continue to sell.
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your...
Prices are facing bearish pressure from our resistance and descending trend line where we could see a further drop below this level. Ichimoku cloud and EMA are showing signs of bearish pressure as well in line with our bearish bias.