NZD/JPY Down she goes to 88.327!
With a bearish engulfing confirming reversal on the daily and a pull back to theT.L confirming a lower low and a possible shooting star formation the 4hr is looking promising for a drop down to 88.327 in between the 38% and 50% retracment and above a previous demand zone for a safer exit.
After a shooting star on the 4hr and forming lower highs and lower lows with bearish harmonics inside a bearish channel the current price can drop from a supply zone which is also in confluence with 76% and STOCH indication over bought. Possible double top still in play too.
After a shooting star on the 4hr and forming lower highs and lower lows with bearish harmonics inside a bearish channel the current price can drop from a supply zone which is also in confluence with 76% and STOCH indication over bought. Possible double top still in play too.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.