NZDJPY Follow the JPY Strength for More downside

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纽元/日元 (OANDA:NZDJPY)

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OANDA:NZDJPY 纽元/日元

chartpattern parallelchannel flagpattern priceaction structure pattern impulse correction wedgepattern

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.

NZDJPY Same Potential Bearish Price Action, Watch for Sell

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

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