NZDJPY approached the first resistance at 77.62 (horizontal overlap resistance, 61.8% Fibonacci retracement ) and a strong reaction might occur below this level, pushing price down to our major support at 76.17 (horizontal pullback support, 50% Fibonacci retracement , 61.8% Fibonacci extension ).
Liquidity gap was filled, plus two previous highs looked like they were manipulated and USDCAD at a strong level in confluence with the fib retracement and trendline retest. Looking also for dollar to be weakened in the short term so we might look for a few days/weeks of shorting this particular pair
We can see a bearish channel forming, there was a false breakout and price is currently hovering in the upside channel TL. If we close below and close below that small vertical TL within the channel, I would assume this pair would drop towards the next daily support as indicated.
We've broken daily support, price is currently testing this zone. We have also...