NZDJPY: H&SH sell opportunity
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Price made a strong move up and now it is testing the daily trend line. Now we can a reversal pattern H&SH in a critical confluence zone. I am counting this move as the 3-rd wave on the bigger TF. If this move is the 3-rd wave up it should not correct and close below 75.53 price otherwise we can be in a corrective wave in overall and we can see bigger correction move to donwside. As long as daily trend line is not broken we can consider both possibilities.
First target for TP is 38.2%, 200 EMA and left structure support.
Good Luck.
First target for TP is 38.2%, 200 EMA and left structure support.
Good Luck.
Note
Daily chartNote
On weekly chart we can see the price even to test the low again.Note
Price broke out and closed outside neck line.
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