NZDJPY likely to face bearish pressure|29 July 2021

30 Tem 2021

NZDJPY is approaching sell entry at 76.516 which is in line with horizontal pullback support, 38.2% Fibonacci retracement and 61.8% Fibonacci extension . Should price break this level, we can expect price to plunge further and take support at the horizontal swing low support at 75.7680 in line with 78.6% FIbonacci retracement and 100% Fibonacci extension . Our bearish bias is further supported by how MACD is holding below the 0 line.

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