This is my technical view of NZDJPY, after this long bullish run and a time of consolidation.
The price break the bullish trend chanal to the downside what will give us a comfirmation to go short on this pair.
I will set 3 positions with diferent targets.
Let see how it playes out.
This pair is trying many days to make new higher highs and is aggressively rejected by bears..
Now bears are in the game and price is probably going to the next "serious'' demand area.
Short the pair with a nice risk/reward ratio
On the left we can see a potential H&S in the making, but obviously it is very premature. There are a few reasons though for me to assume it is a realistic option.
At the high we can see a gap up that got sold of quite big with to big red daily candles. This is a sign of weakness and shows there is a potential high set. When we zoom in, i will get in with 50% of ...