NZDJPY is in the consolidation triangle
NZDJPY is in the consolidation triangle squeezed between 69.50 and 72. A close above 72 is required for the upside continuation and extension higher to a new high. For a complete bearish downside reversal breakout and higher probability short trade entries, we need to see a confirmed break below 69.50. A break below this level would lead to a deep pullback to 66. The overall long-term is a downtrend and we need to see a break below 72.060 for a complete reversal higher.
Note – We will take the trade entry in a direction of the price action break above 72 or below 69.50
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