NZD/JPY Short - Daily timeframe
Analysis started on the weekly timeframe, showing rejection off of the key daily level, with a loss in momentum.
Impulsive candle then showing on the daily timeframe however, unable to breakthrough previous resistance. RSI is nearing overbought conditions, and previous RSI levels of resistance.
Fib retracement, currently rejecting off of the 0.5 key fib level. Overall trend direction is to the downside.
Let me know what you think.
Impulsive candle then showing on the daily timeframe however, unable to breakthrough previous resistance. RSI is nearing overbought conditions, and previous RSI levels of resistance.
Fib retracement, currently rejecting off of the 0.5 key fib level. Overall trend direction is to the downside.
Let me know what you think.
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