The current technical pattern on the NZD/JPY currency pair signals the development of the bearish sentiment after a prolonged consolidation. A classic pattern, Triple Top (H4 timeframe), has been formed in the trading instrument. At the moment, NZD/JPY quotes are in the range of 69.60-70.00. We recommend paying attention to this situation.
If the price fixes below 69.60, it is necessary to look for entry points to the market to open short positions. The nearest goal for profit-taking is the round level of 69.00. The movement is tending to 68.50-68.00. When tracking positions, we recommend using a trailing stop.
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.Open Account