The trend is down, the moving averages are down, price is at resistance & the daily looks like it's going to make a nice rejection candle. What's this mean? Downtrend! And that's exactly what we're looking to play. NZD/JPY has been in a downtrend for some time now and continuing to play it to the downside seems pretty smart. Where do we enter? Well, we want to see the daily close first and if the daily can close as is or a bearish pin bar or some sort of price action signal that allows us to take this short.
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