NZD JPY - Potential double top
Based on the analysis, the NZD JPY is forming a bearish candle after reaching the level of previous higher high. It could lead to a double top pattern, indicating that that it is likely to reverse its trend. Additionally, there is a divergence being formed on the Relative Strength Index (RSI), which further confirms the potential for a reversal.
The neck line break will further confirm the potential new downward trend, at which point we can consider shorting the pair.
The analysis suggests that the market is likely to experience lower lows in the coming period, and we can consider shorting the pair if following conditions are met:
1. A break in the neck line
2. A new higher high is not made
The neck line break will further confirm the potential new downward trend, at which point we can consider shorting the pair.
The analysis suggests that the market is likely to experience lower lows in the coming period, and we can consider shorting the pair if following conditions are met:
1. A break in the neck line
2. A new higher high is not made
כתב ויתור
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