NZDJPY BEARISH IDEA
New Zealand Dollar against Japanese Yen, in D1 time frame, NZDJPY has been trading within a range territory from 82.226 to 87.270 and of course it's something to look seriously, from the resistance tested above or nearly 87.486.
The ABCD Harmonic pattern suggest that the buying run may end soon because the completion of D has taken place and some rejection has been noticed which started to formed faded bull flag.
Our ascending support may be respected which price may push down for thrice touch
It has formed a double top which signaled that some bearish movement may start soon, but an obstacle to sellers is that currently it is forming Bullish flag but we expect that, it may not last hence our bearish Idea is expected to be valid in couple days.
So far we wait for the breakout of the newly initiated bull flag, breaking above the bull flag may surely make the game in favor of buyers.
The ABCD Harmonic pattern suggest that the buying run may end soon because the completion of D has taken place and some rejection has been noticed which started to formed faded bull flag.
Our ascending support may be respected which price may push down for thrice touch
It has formed a double top which signaled that some bearish movement may start soon, but an obstacle to sellers is that currently it is forming Bullish flag but we expect that, it may not last hence our bearish Idea is expected to be valid in couple days.
So far we wait for the breakout of the newly initiated bull flag, breaking above the bull flag may surely make the game in favor of buyers.
Those took part in this Trade congratulations