NZDJPY – Taking a short sell entry hereNZDJPY price has been rejected from top of higher TF Rising wedge structure quite impulsively. Shortly after breaking the Rising wedge, it start to form a bearish continuation flag pattern and managed to break it by few pips on Friday.
This is a trigger for my short sell position on this pair with sl above the flag structure. 1st target is arround 77.000 area (about 1:3 RR ratio).
A convincing break below that level will open a long term sell opportunity with target still remain to be seen.
For now, lets see how will the price develop. Good Luck.
