Based on my analysis using Elliot wave theory, it appears that the NZDJPY is displaying a strong bearish trend. The wave patterns that I have observed across various timeframes suggest that the market is likely to experience a downward movement. Specifically, when examining the H1 chart on both intermediate and minor degrees, it appears that wave 3 (down) of a...
Looking at the NZDJPY, we can see the pair have been in a ABC Pattern, which has now reached the 161.8 Fib Extension. I will be watching price action around this area for a short.