After a period of consolidation, NZDJPY has broken out and closed towards the downside. Following this trend, a retracement level of 50% aligns perfectly with the monthly low. I'm speculating that a possible short entry may be found in this area where previous support will become newly found resistance as the trend continues. My exit plan is based on two possible target levels if the 50% retracement is respected, first being at the 127 level marked red. Or the 168 level below, also marked red.
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