• NZDJPY is capped in nearly a 5 year negative trend since December 2014.
• As you can see below there has been a large sell off as the pair have reached the cap of the negative trend line.
• Looking closer there is a TREBLE top on the daily and 4 hour candles.
• FIB retracement tool is suggesting 75.25 as the first target level which is over 100 PIPS away (61% FIB level)
You can look to use stop losses above the 71% FIB retracement level which is roughly 77.00.
• As you can see below there has been a large sell off as the pair have reached the cap of the negative trend line.
• Looking closer there is a TREBLE top on the daily and 4 hour candles.
• FIB retracement tool is suggesting 75.25 as the first target level which is over 100 PIPS away (61% FIB level)
You can look to use stop losses above the 71% FIB retracement level which is roughly 77.00.