NZDJPY Short Idea
As our analysis suggested last week, we were bearish on NJ. Current price action broke through weekly support and is now testing the 38.2% daily fib level around 69.28
We could see price start to fall from this region toward the lower trend line & support level around 68.00
If price action break that 68.00 level we will continue to target lower toward the -27% daily fib around 65.25
Ideally a wick off the 38.2% and a strong bearish variation would be confirmation enough to enter short
If price action does push up instead we will look for potential reversals around the daily 61.8% fib level around 70.84
As our analysis suggested last week, we were bearish on NJ. Current price action broke through weekly support and is now testing the 38.2% daily fib level around 69.28
We could see price start to fall from this region toward the lower trend line & support level around 68.00
If price action break that 68.00 level we will continue to target lower toward the -27% daily fib around 65.25
Ideally a wick off the 38.2% and a strong bearish variation would be confirmation enough to enter short
If price action does push up instead we will look for potential reversals around the daily 61.8% fib level around 70.84
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.