NZDJPY approaching resistance, potential drop!
NZDJPY is approaching our first resistance at 74.12 (horizontal overlap resistance, 23.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension, descending resistance line) where a strong reaction might occur pushing price down to our major support at 73.25 (horizontal swing low support, 50% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and is seeng a bearish divergence where we might see a corresonding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching resistance and is seeng a bearish divergence where we might see a corresonding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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