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NZDJPY broken major channel, potential bearish reversal

Short
New Zealand Dollar / Japanese Yen (FX:NZDJPY)  
Tickmill Broker  
FX:NZDJPY   New Zealand Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns NZDJPY NZD jpy nzdjpyshort nzdjpylong nzdjpysell nzdjpybreakout nzdjpybuy nzdjpysignal
135
1
trendanalysis harmonicpatterns chartpattern nzdjpy nzd jpy nzdjpyshort nzdjpylong nzdjpysell nzdjpybreakout nzdjpybuy nzdjpysignal
NZDJPY has broken our major ascending channel support triggering a potential bearish exit. Our major resistance level is at 80.40 (Fibonacci retracement, pullback resistance) and a strong reversal could occur from here to push price down towards 80.02 (swing low support, Fibonacci retracement) before 79.50 (Fibonacci retracement, Fibonacci extension, horizontal swing low support).

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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