Nzdjypshort
NZDJPY potentoal short soon4 hr chart of nzdjpy, potential short when price consolidates forming a rising wedge which is a reversal pattern.
daily time frame also showing to be oversold with stochastic,
NZDJPY approaching resistance, potential drop! NZDJPY is approaching our first resistance at 74.15 (horizontal pullback resistance, 61.8% fibonacci extension, 38.2% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 72.38 (horizontal swing low support).
Stochastic (89,5,3) is also approaching resistance and a reaction off this level might see a corresponding drop in price.
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