NzdJpy to resume its long term downtrend

1 בנוב׳ 2020

NzdJpy is in a clear downtrend for 7 years now, with the pair dropping from 93 high to 60 low in spring.
After a normal correction/medium-term uptrend and a high around 72, the pair is in consolidation/distribution from the beginning of June.
Clear support is marked by 69 figure and a drop under this support would signal resumption of long term downtrend and a high probability short trade with a target of 66