Signal_Centre
Short

NZDJPY - Selling the top of the range

FX:NZDJPY   New Zealand Dollar / Japanese Yen
NZDJPY is Bearish - We look to Sell at 66.08

▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ Price action continued to range between key support & resistance (66.16 - 63.46) and we expect this to continue.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 66.08, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.

Stop: 66.25
Target1: 65.00
Target2: 64.50
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Comments

Reference to my previous comment:

False breakout occour:
Now liquidity formed for hedge funds to sell.

This was a good trick by hedge funds.
Reply
Just check weekly Resistance,
As far as I know, it will break daily resistance line and bounce back weekly resistance.

Hedge funds will definately try to break Dialy resistance in order to form liquidity for sell.
Reply
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