So many reasons to be short NZDJPY

NZD/JPY and AUD/JPY have a strong correlation with the S+P which has clearly entered a bearish picture. Possibly on the fears of a second wave of COVID-19 looming. For a technical perspective @transparent-fx has a nice summary. But with S+P tanking and price action showing NZD/JPY struggling to break above the high volume point of control - the picture is is strongly bearish. I am building shorts as per arrows , although there is a small possibility for extension to the 7000 level,that scenario is increasingly looking unlikely.

Commentaire:

Another short added 69.50

Trade fermée manuellement:

Another heavy short added 69.90 but trade now closed. S+P pushing higher and closed above previous resistance in over night trading.It is likely to carry on higher and take NZD/JPYwith it

Commentaire:

Closed at 69.10