The NZDJPY instrument is trading below the buyer zone at 92.38, indicating that sellers are currently dominating the market. It is possible to consider entering short positions at the pullback point. The critical level in this case will be at a maximum of 93.61, which is the last important range for us. If sellers continue to push the price lower, the first target for a potential reversal will be at 94.28, the level where buyers previously pushed the price up. To cancel the bearish sentiment, a return above the impulse maximum at 93.06, followed by price consolidation above it, will be necessary. This could lead to a potential push towards the target of 93.99. In any case, a signal for long positions will be a crossover of the 13-50 period moving averages. Until this happens, we will only consider short positions.
