NZDJPY broke out of it daily downtrend line over the last trading week. This pair created a strong daily support zone between 80-81 (see details in the chart). However, since there are two harmonic patterns that are still valid, there bears may not have said their final words..
The bullish and the bearish scenarios are shown in the chart:
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Nice bounce from the Buy Zone last week. We will have to monitor again this week
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Consolidation below resistance. Next move will be a strong one