NZDJPY Current Setup

This pair just plunged yesterday and bounced of the .618 of the most recent swing. There is a support zone the is coincidently defined by the .50 and.618 of the most recent swing. In addition there is some former resistance that is now support. A break below 89.50 would expose 89 and below and cause you to reexamine the most recent uptrend. Currently you have to see the setup as bullish until a break and close below 89.50.

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