Daily: Market trend shows a downtrend. 55/21. Price action shows it to be bearish – 8/5. Price has just formed a double bottom after rising to 21 ma level. July target was MM2 ,and target was reached. Bears are taking profit at the moment. I expect price to retrace to 138.2 level,than move to MPP target
H4 – Price appears to be possibly ranging – higher highs and lower lows. – Price is in a downtrend whilst price action is bullish. Price is at WPP ,AND EXPECTED TO BOUNCE LOWER OFF ma 21 to form a lower low. I expect bears to buy shortly ,and take price lower supporting the daily price trend

NZDJPYiDaily-5-sept

Daily: Market trend shows a downtrend. 55/21. Price action shows it to be bearish - 8/5. Price has just formed a double bottom after rising to 21 ma level. July target was MM2 ,and target was reached. Bears are taking profit at the moment. I expect price to retrace to 138.2 level,than move to MPP target

NZDJPYiH4

H4 - Price appears to be possibly ranging - higher highs and lower lows. - Price is in a downtrend whilst price action is bullish. Price is at WPP ,AND EXPECTED TO BOUNCE LOWER OFF ma 21 to form a lower low. I expect bears to buy shortly ,and take price lower supporting the daily price trend

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.