Signal_Centre

NZDJPY - Limited upside within the bearish channel

Short
FX:NZDJPY   New Zealand Dollar / Japanese Yen
NZDJPY is Bearish - We look to Sell at 65. 40

▪️ Trading within a Bearish Channel formation.
▪️ We have a 78.6% Fibonacci pullback level of 65.29 from 65.79 to 63.46.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 65. 40 , resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.

Stop: 65.85
Target1: 63.95
Target2: 63.50

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