NZD/JPY H4 Murray Levels
The pair properly tested the resistances and then headed south. Currently, the quotes are almost at the support level of 5/8, with the moving average acting as resistance above the quotes. From this support, they could certainly turn back north, where the moving average will come into play. However, they could also attempt to break below the support. If they manage to move lower, then in this case, the north will completely cool down, and they will start trying to continue the descent. In other words, continue south. For greater confidence in the continuation, it is necessary to overcome the 3/8 support and consolidate below. Profits.
