After hitting a high twice around 83.74 in December and January, NZDJPY could go bearish if the 81.85/82.00 area resistance doesn't get broken. 81.85 could also be the top of the second shoulder in a neck and shoulder pattern, confirming that.
Looking at Fibernacci retracements from the high at 81.85, there is a fib cluster around 81.32/81.37 area, and a perfect fib cluster in the 80.65 area. There are also strong support levels in these areas. And it is also the second time in the week that the 50MA gets tested, but not broken.
Comments and ideas appreciated
Looking at Fibernacci retracements from the high at 81.85, there is a fib cluster around 81.32/81.37 area, and a perfect fib cluster in the 80.65 area. There are also strong support levels in these areas. And it is also the second time in the week that the 50MA gets tested, but not broken.
Comments and ideas appreciated