NZDJPY Follow the JPY Strength for More downside

18 May 2022

Hi traders:

Also on watch is NZDJPY which has been pushing down aggressively from the top.

From the higher time frame we can see clean double tops, expanding structure, and price indeed reverse down from the top of structure.

Here on the lower time frame, price formed that double tops, ascending channel, and strong bearish impulse down.

With a few impulses and corrections, price is able to continue down more.

Latest development shows an ascending channel/rising wedge correction, good signs of more bearish price action.

Look for lower time frame continuation to push the price down more.

Thank you

25 May 2022

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