NZDJPY like pretty much all the Yen pairs is showing us a sell signal. Price is still in correction mode after rallying +450 pips with wave 3.
The first push to the downside was labelled as wave A, followed by a Wave B.
We now have:
Watch on the lower timeframe for good entry, Last Friday already gave good opportunities on most Yen pairs.
Have a look at my other Yen analysis:
GBPJPY:
EURJPY:
The first push to the downside was labelled as wave A, followed by a Wave B.
We now have:
- Price Action sell signal on 1H TF with RSI divergence
- Daily tweezer top candlestick pattern, an exhaustion pattern which indicates, that the market has no power to push higher
- Wave C should come rather impulsive to the downside and at least touch and retest the falling trendline
Watch on the lower timeframe for good entry, Last Friday already gave good opportunities on most Yen pairs.
Have a look at my other Yen analysis:
GBPJPY:
EURJPY:
