NZDJPY to turnaround?NZDJPY - 24h expiry
Price action looks to be forming a top.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Bespoke resistance is located at 93.30.
We look to Sell at 93.30 (stop at 93.55)
Our profit targets will be 92.70 and 92.30
Resistance: 93.30 / 93.50 / 93.80
Support: 92.90 / 92.60 / 92.30
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