Above support but still within the PRZ of a bearish Bat
$NZDJPY turned 81 to support zone by closing above it at the end of Friday's session.
The bearish Bat pattern is still in play but the fact that the price bounced twice on top of the Fast SMA line and couldn't close below it is a strength signal for $NZDJPY.
83 is the top structure zone of the trading range marked in the chart.
A close above 83 could send $NZDJPY higher towards the 200 SMA line.
A close below 81 will trigger the bearish Bat pattern
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters - To read more interesting technical reviews for the week - goo.gl/jM5d1P
To subscribe to the newsletters - goo.gl/JfOLoR
The bearish Bat pattern is still in play but the fact that the price bounced twice on top of the Fast SMA line and couldn't close below it is a strength signal for $NZDJPY.
83 is the top structure zone of the trading range marked in the chart.
A close above 83 could send $NZDJPY higher towards the 200 SMA line.
A close below 81 will trigger the bearish Bat pattern
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters - To read more interesting technical reviews for the week - goo.gl/jM5d1P
To subscribe to the newsletters - goo.gl/JfOLoR