NZDJPY poised to continue the channel
Jun 28, 2022
Bearish: We are currently @ 85.43 after putting in a large a-b-c pattern. We have convergence to the downside. IF, we can break the slope support, we are looking for a continuation to the S4@ 84.24 area and then the ATR target @ 84.08 area. Watch the USDX for any change in direction. The ATR for the pair currently is 120 pips per day and its 180 day average is 111 pips per day. USDX is currently threatening up at the time of this post.