NZDJPY - Bearish Divergence + Short Sentiments
The NZDJPY pair is currently showing signs of a bearish divergence, indicating a potential downward movement in price. This technical analysis suggests that despite previous upward trends, the momentum is weakening, and prices might start to decline. Additionally, there is a significant bearish sentiment among traders, with 90% leaning towards short positions. This overwhelming preference for shorting suggests that the market expects the NZDJPY to decrease in value. Together, the bearish divergence and high short sentiment point towards a potential drop in the NZDJPY pair, making it a subject of interest for traders anticipating market movements.
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