My idea on NZD/JPY:
As I said in my previous analysis, this pair has more upside potential. However, I am not looking to resume the overall picture but for short-term targets instead ( for the time being ).
I can see this downside move is pretty aggressive ( judging from the daily ) but I can also see the price having some problems with the current zone which is actually right around
the first broken area from the weekly (new support). I am waiting a small discount so I can buy it at a better price. I will use the main spot where the price held instead (H4) of this spike so I will
place my SL below there - very tight. Initial target - 79.70. Possible buy now - without a discount ( risk to reward - 1:1 ). Your choice :)
Good luck :)
Furthermore, we've got a potential higher low (but not yet).
Taking into consideration that we're right at this weekly support line this gives me a sign that this might be going up. The only scary thing is the previous candle.