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NZDJPY| Range High| Bearish PA| 200 DMA
New Zealand Dollar / Japanese Yen
Short
NZDJPY| Range High| Bearish PA| 200 DMA
By AzizKhanZamani
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Sep 9, 2020
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Sep 9, 2020
Evening Traders,
Analysis on - NZDJPY –any rallies are to be sold into on the daily, technical points to consider.
- Range high deviation
- Valid bearish retest
- Bearish PA
- 200 DMA Support
Price breaking impulsively from range high is quite bearish; a weak bounce will signify follow through to the downside.
Price action is likely to put in a bearish retest, allowing short sellers to step in. The short will only be negated if price takes out recent high.
The immediate target is range low; this area is of confluence with the 200 DMA.
Hope this analysis helps!
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And remember,
“All statistics have outliers. Money management, therefore, is key to the process of good trading.” ― Yvan Byeajee
200dma
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