hzs
Short

Looking to short NZDJPY on ABCD pattern

FX:NZDJPY   Neuseeländischer Dollar / Japanischer Yen
New Zealand new Prime Minister Labour Party Ardern is implementing new policies such as reducing immigrants can affect the economic growth. Also lack of details in RBNZ cause uncertainty about future monetary policy outlook. So I am bearish on NZD

From the chart, market is actually moving side way (200ema is flat). However, since the election, NZD has dropped significantly and price is below 200ema. There is a downward bounce ( ABCD ) formation. I am looking for pullback and short at previous low.

Reward to risk for this analysis is 5 : 1
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