NZDJPY - Potential Short?

Short

Dollar Néo-Zélandais / Yen Japonais (FX:NZDJPY)

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FX:NZDJPY Dollar Néo-Zélandais / Yen Japonais

trendanalysis indicator harmonicpatterns nzdjpy nzd jpy

Hey traders,

NZDJPY formed a bearish flag pattern and price strongly rejected the resistance level marked in red, the RSI was also showing a clear divergence on the 1 hour timeframe indicating potential bearish momentum. Price is currently breaking the support trend line of the bearish flag so I will be looking for short positions.

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Commentaire:

Currently sitting at resistance and being rejected by the 78.6 fib, a drop MAYBE expected however still need to be cautious in case resistance is broken which may see more bullish momentum.

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