NZDJPY Potential downsides

13 במרץ 2023

Hey Traders, NZDJPY was trading in an uptrend and then we had a massive breakout due to JPY strength. the environment in the Forex market is dangerous due to the current sentiments, all central banks are expected to hike rates. so in this type of environments the market consider the safe havens including CHF and JPY. and that's the reason of NZDJPY breakout.
Technically we have noticed a breakout on the uptrend so we will consider a potential short opportunity around 82 supply and demand zone at the retrace area.
Trade safe, Joe.