NZDJPY - Larger PerspectiveIf we view this pair from a larger perspective we will see that in reality all sellers that were lured in at the breakout have now been stopped out.
This could mean that banks have significant liquidity to make the true move to the downside.
I will be waiting on a strong pullback before getting involved in long term sells.
Nzdjpyanalysis
NZDJPY - Zone to ZoneYesterday's collapse filled some of the imbalance from the strong move up.
We are now trading around a previous order block and showing signs of rejection, could this be signs of some bullish momentum prior to NFP?
Ideally, I would like to buy here to the higher OB but I will wait for further confirmation.
NzdJpy to break support?Since February, NzdJpy has had 6 attempts to stay above 79 figure and failed every time.
Now the pair broke under trendline support and is trading just in horizontal support level around 78
A break here would give bears the upper hand and would expose 76 support.
NzdJpy back above 79 would negate this bearish scenario
NZDJPY has broken the daily trend line!!This pair has just broken the daily trend line and preparing for a deeper retracement to a monthly 38.1 % fib level.
the best situation to trade on the retest of the trend line. If the price holds on the retest, a short trade is a more high probability.
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