NZD / JPY, is this a good time to sell?
NZD / JPY, is this a good time to sell? Technically, the graph looks really interesting. A large number of sellers have moved to 79,110, where I will be looking for opportunities to average my short position.
The yen is weak in the global currency market. Nevertheless, the fact that the NZD is slowly starting to lose strength (short term) speaks for the short position.
I will wait until the market begins to price in less risk aversion, which when combined with good sales levels should result in a downward candle. The current exposure is not large, I leave myself room for averaging at a higher price.
The upward peak on candles D1 and H4 is sharp. There weren't too many price tests under the family. So they expect one more important correction. Additionally, the potential rebound in yields may support declines in NZD / JPY.
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