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Title
NZDJPY Potential for bearish drop towards previous swing low
Type
Bearish Breakout
Preference
Looking at the H4 chart, my overall bias for NZDJPY is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
If price breaks this support here, I expect price to possibly drop from the pivot towards the support which is the previous swing low.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.