The NZD/JPY currency pair is currently showing short-term bearish momentum. Based on technical analysis, there is no significant signal of a bullish reversal yet, suggesting that further downside potential remains likely.
This bearish outlook is supported by a descending trendline, indicating ongoing selling pressure. Additionally, the formation of a double top pattern—a classic reversal signal—adds weight to the expectation of further decline.
As long as price remains below key resistance, the bearish bias stays intact.
Recommendation:
- Sell NZD/JPY
- Entry: 87.680
- Take Profit 1: 87.380
- Take Profit 2: 86.980
- Stop Loss: 87.900
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