The NZDJPY is at a major crossroads, tempting the break of multi-year trendline support, dating back to the 2011 low.
The last 12-24 months' action seems to foretell an accelerated downturn.
My first target is the 69 area, with a risk-reward ratio of around 4.8
Only a break of the succession of lower highs would shift me neutral.
The last 12-24 months' action seems to foretell an accelerated downturn.
My first target is the 69 area, with a risk-reward ratio of around 4.8
Only a break of the succession of lower highs would shift me neutral.