NZDJPY looks to break here or a little later after retesting the (weekly) long term trend line.
It will be bearish son, because:
1. JPY is strong at the moment, while NZD is fairly weak (synthesis across all pairs)
2. RSI quite bearish.
3. long term trend is bearish
4. at bottom of channel
5. retested MA200 (black line)
Wait for channel retest then down to (A). Possibility it will go up to LONG TERM TREND first, so only trade after confirmation.
Let's see. Thanks a lot!
**Leave your thoughts or questions in comments!! I will respond. Like it if you think this is useful**
It will be bearish son, because:
1. JPY is strong at the moment, while NZD is fairly weak (synthesis across all pairs)
2. RSI quite bearish.
3. long term trend is bearish
4. at bottom of channel
5. retested MA200 (black line)
Wait for channel retest then down to (A). Possibility it will go up to LONG TERM TREND first, so only trade after confirmation.
Let's see. Thanks a lot!
**Leave your thoughts or questions in comments!! I will respond. Like it if you think this is useful**