Evening Traders,
Analysis on - NZDJPY –any rallies are to be sold into on the daily, technical points to consider.
- Range high deviation
- Valid bearish retest
- Bearish PA
- 200 DMA Support
Price breaking impulsively from range high is quite bearish; a weak bounce will signify follow through to the downside.
Price action is likely to put in a bearish retest, allowing short sellers to step in. The short will only be negated if price takes out recent high.
The immediate target is range low; this area is of confluence with the 200 DMA.
Hope this analysis helps!
Thank you for following my work!
And remember,
“All statistics have outliers. Money management, therefore, is key to the process of good trading.” ― Yvan Byeajee
Analysis on - NZDJPY –any rallies are to be sold into on the daily, technical points to consider.
- Range high deviation
- Valid bearish retest
- Bearish PA
- 200 DMA Support
Price breaking impulsively from range high is quite bearish; a weak bounce will signify follow through to the downside.
Price action is likely to put in a bearish retest, allowing short sellers to step in. The short will only be negated if price takes out recent high.
The immediate target is range low; this area is of confluence with the 200 DMA.
Hope this analysis helps!
Thank you for following my work!
And remember,
“All statistics have outliers. Money management, therefore, is key to the process of good trading.” ― Yvan Byeajee