NZDJPY | Bearish Harmonic Pattern In Risky JPY Conditions
NZDJPY | Bearish Harmonic Pattern In Risky JPY Conditions
During the previous week, many of the JPY currency pairs were testing very strong resistance areas.
As you may have seen, the JPY was again very weak even after the BOJ press conference.
The BOJ did not change anything in the monetary policy statement, but again the market reacted against the JPY.
Perhaps many expected surprises from the BOJ again and this decision caused the market to move against the JPY.
PS: In the current conditions, the price is showing this beautiful harmonic pattern, but considering that the JPY is very weak, this is more dangerous than normal.
Thanks and good luck!
During the previous week, many of the JPY currency pairs were testing very strong resistance areas.
As you may have seen, the JPY was again very weak even after the BOJ press conference.
The BOJ did not change anything in the monetary policy statement, but again the market reacted against the JPY.
Perhaps many expected surprises from the BOJ again and this decision caused the market to move against the JPY.
PS: In the current conditions, the price is showing this beautiful harmonic pattern, but considering that the JPY is very weak, this is more dangerous than normal.
Thanks and good luck!
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