NZDJPY Sell signal at the top of the Channel Up.

10 Jul

The NZDJPY has been trading within a Channel Up pattern since the March 24 2023 bottom and today just made contact with its top (Higher Highs trend-line). We expect a strong rejection, similar to July 05 2023 that pulled-back all the way to the 0.5 Fibonacci retracement level and the 1D MA100 (green trend-line).

As a result, we treat today's rejection as a strong sell opportunity. Our Target is 95.580 (Fib 0.382).

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