NJ Neutral weeklyNZDJPY has showed major weakness for months this year, and continuous to plummet .
Price has found way back to the weekly ascending trendline and is cornered.
Wait to see if trendline support holds or if it breaks a break will see it move towards the next area of support below trendline if it hold it be indicated by a bullish engulfing close on weekly to indicated medium term trend change .
It is not advisable to risk on this pair until higher probability setups occur on higher time frames.
NJ
NZD/JPYI have been talking about an NJ buy for a while considering this price action channel/ diagonal. Simply looking for a 1-2-3 to take place either direction it is going. It wicked out of bottom of channel off .786 fib. Looking for a corrective flag here or a breakout of channel and correction for confirmation. We had a 1 hour correction, but it can expand or even extend down to break the last low it just made considering the supply zones below it but it did make enough touches in this channel with a wick out of the bottom and does have enough overlap. But it is a yen pair so be aware.