WEEKLY NZDJPY BEARISH SENTIMENT

10 May 2016

NZDJPY Weekly chart - Very promising setups based off of Fibonacci levels. Price made several attempts @ 74.60, 38.2% fib level, until finally closing below the last week of Apr and so far remains. Institutional sentiment is bearish the pair with overall Kiwi weakness and Yen neutrality. With an unclear view of Yen holistically, further selloffs could be a struggle but sentiment will remain. Next levels to be tested: 71.50 (50%Fib) and 68.50 (61.8%).