NZDJPY Short idea
Price action on higher time-frames has been primarily bearish so we will look to trade with the trend after a strong bearish signal at a key level is formed
Current price action is at the daily 38.2% fib level right now as well as weekly resistance, if price confirms a reversal here it would solidify a daily double top pattern
Ideally we would like to see a strong bearish signal from this current level or even at the daily 61.8% fib level around 70.80 which has even more confluence which includes: daily resistance, & the 200 ema
We are looking to target toward the daily -27.2% fib level around 65.25
Price action on higher time-frames has been primarily bearish so we will look to trade with the trend after a strong bearish signal at a key level is formed
Current price action is at the daily 38.2% fib level right now as well as weekly resistance, if price confirms a reversal here it would solidify a daily double top pattern
Ideally we would like to see a strong bearish signal from this current level or even at the daily 61.8% fib level around 70.80 which has even more confluence which includes: daily resistance, & the 200 ema
We are looking to target toward the daily -27.2% fib level around 65.25
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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.