NZDJPY - KEY OUTSIDE BAR REVERSAL SIGNALS LOSSES AHEAD!

11 Nis 2015

Friday saw the pair challenge T-Line Resistance and 78.6% Fib of smaller degree swing and got HEAVILY rejected thus forming a Key outside bar reversal on the daily chart. This is a ominous bearish sign. Aggressive traders have every justification to initiate short positions with a great R/R ratio. More conservative traders can wait for a successful break below 88.73 to enter the short side but the R/R ratio is less favorable.