The NZDJPY is testing a local resistance zone that has been tested as a support 5 times before. Moreover, the zone includes a Fibonacci level of 38.20, a descending trendline, and the 4-hour 50-period moving average. All of these factors make a strong case for a possible downward reversal, with a potential next target of 81.20.
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Please follow if you're interested in more ideas like this.
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