NZDJPY: The Next Bearish Wave
NZDJPY broke and closed below a major wide demand cluster on a daily.
The broken structure 83.8 - 85.0 turned into resistance now.
It looks like the pair is quite oversold at the moment.
The market will most likely retrace to the underlined area
and a bearish wave will initiate then.
Goal will be a rising trend line , matching the last higher lows.
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