NZDJPY reacting below descending trendline resistance. A short term intraday drop below our 1st resistance at 78.547 towards recent swing low and 1st support at 78.176 could be possible. Technical indicators are also showing room for further bearish momentum
Trading Recommendation
Entry: 78.547
Reason for Entry:
50% Fibonacci retracement, Descending trendline resistance
Take Profit: 78.176
Reason for Take Profit:
Graphical swing low support
Stop Loss: 78.691
Reason for Stop Loss:
Recent swing high
