NZD/JPY Detailed Video Analysis

Starting off with the Weekly timeframe, you can see that NZD/JPY broke the descending channel, and we know that when we see a break of a descending channel, we expect the price to reach the beginning of the channel; however, using our Fibonacci Retracement, we can see that NZD/JPY rejected the 78.6% Fibonacci level 3 times and couldn't break it.

Going down on the Daily chart, we can see a decent ascending channel with a beautiful rejection, and we expect this channel to break any time soon. Now in order to know when and how we enter capitalize on this trade, we use the 4H chart to determine our exact entry point. Keep in mind that in the markets, we always have an impulse and a correction then another impulse and another correction, so don't rush the market and let's wait for the market to give us a perfect entry point in order to enter with a sell position. Our first target will be the bottom of the channel (4H chart) at (75.65). Breaking this level will push NZD/JPY towards 73.61 and 71.60.

Good luck!