NZDJPY tested the bottom set on the 3rd of January 2019 at 70.71. Now, it seens to be creating a Bullish 5-0 Pattern or Bullish 50% reversal, however, as I like to trade between Proyected Reversal Zones (PRZ). I have added the 0.618 retracement.
Potential Targets
T1 -(72.78) 100% extention of the move assuming that the bottom has been establish, otherwise, requiere re-calculate.
T2 -(73.64) 161.8% ext and 50% retracement, price broke this support and never looked back, I am sure that bear are waiting for this retracement.
T3 - (74.61) 61.8% retracement.
Potential Targets
T1 -(72.78) 100% extention of the move assuming that the bottom has been establish, otherwise, requiere re-calculate.
T2 -(73.64) 161.8% ext and 50% retracement, price broke this support and never looked back, I am sure that bear are waiting for this retracement.
T3 - (74.61) 61.8% retracement.
Trade active
Trade closed: stop reached