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
To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
Source: Tickmill