NZDJPY M15 I Potential bearish reversal
Title
NZDJPY M15 I Potential bearish reversal
Type
Bearish Drop
Preference:
Price has jsut reacted off the pivot point of 92.24, an overlap resistance that aligns with the 61.8% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 92.06, a pullback support level.
Alternative scenario:
If price breaks above the pivot, it could rise to 1st resistance at 92.38. above the swing high resistance
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.