NZD/JPY Price Analysis: Bears lurking at critical daily resistance

NZD/JPY bears are moving back in at critical levels of resistance.
The bears will be seeking a downside extension from a daily perspective.

Ross J Burland FXStreet

NZD/JPY rallied in Asian markets today, but there is a lack of momentum, so far, which leaves the downside prospects compelling still.

The following is an illustration of the downside potential in the cross from a daily perspective:

NZD/JPY Price Analysis

NZD/JPY, from a daily perspective, is consolidating around a 50% mean reversion area around the 77.00 area.

The failures beyond the 77.50s are stacking up to be bearish in its self which could lead to a downside extension.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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