Hello and welcome to my Trade Idea of the currency pair NZD/JPY.
Let's start with the Top Down Analysis.
Monthly: Monthly is in a very strong downtrend.
Weekly: In the weekly timeframe we see that the price breaks the lows and close under these. As well the last weeks had 2 big bearish candles which confirm that the trend is bearish.
Daily: The daily timeframe is bearish too.
H4: The pennant pattern is drawn in the h4 timeframe, and we wait for a breakout.
Have a nice day.
Let's start with the Top Down Analysis.
Monthly: Monthly is in a very strong downtrend.
Weekly: In the weekly timeframe we see that the price breaks the lows and close under these. As well the last weeks had 2 big bearish candles which confirm that the trend is bearish.
Daily: The daily timeframe is bearish too.
H4: The pennant pattern is drawn in the h4 timeframe, and we wait for a breakout.
Have a nice day.