Hey traders,
NZDJPY formed a bearish flag pattern and price strongly rejected the resistance level marked in red, the RSI was also showing a clear divergence on the 1 hour timeframe indicating potential bearish momentum. Price is currently breaking the support trend line of the bearish flag so I will be looking for short positions.
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NZDJPY formed a bearish flag pattern and price strongly rejected the resistance level marked in red, the RSI was also showing a clear divergence on the 1 hour timeframe indicating potential bearish momentum. Price is currently breaking the support trend line of the bearish flag so I will be looking for short positions.
If you find this idea helpful...
Leave a like as it is much appreciated👍
Follow for future ideas❤
Comment below on what you think🗨
Comment:
Currently sitting at resistance and being rejected by the 78.6 fib, a drop MAYBE expected however still need to be cautious in case resistance is broken which may see more bullish momentum.
