NZDJPY just touched the daily trendline which also meets my resistance area. As it couldn't break none of these successfully I'm expecting it to continue the downtrend.
In the other hand, the price has bounced on the 61.8 fib level which is also a good confirmation of trend continuation.
However, I'll wait until it breaks the previous uptrend to go short. If it breaks it, we could see a bearish move of 150 pips.
In the other hand, the price has bounced on the 61.8 fib level which is also a good confirmation of trend continuation.
However, I'll wait until it breaks the previous uptrend to go short. If it breaks it, we could see a bearish move of 150 pips.
Trade closed: stop reached