Bearish Trend Comming on NZD/JPY by ThinkingAntsOk
Daily Chart Explanation:
Price is clearly consolidating below the Support Zone on the Daily Chart. We consider that the movement is confirmed, however we need to see how the Weekly candle closes, because it will provide important information. The main target in the short term is the 1.618 Fibonacci Extension Level, since there is not a Support Zone in the Short Term. On the Long term, the target is the Weekly Support Zone explained on the Weekly Chart.
Weekly Analysis:
Price is clearly consolidating below the Support Zone on the Daily Chart. We consider that the movement is confirmed, however we need to see how the Weekly candle closes, because it will provide important information. The main target in the short term is the 1.618 Fibonacci Extension Level, since there is not a Support Zone in the Short Term. On the Long term, the target is the Weekly Support Zone explained on the Weekly Chart.
Weekly Analysis:
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