Hello traders,
NZD/JPY made a bigger three-wave recovery as in an A-B-C manner, which looks to have found a top at the 74.1 area. Reason for a top in place is a drop in minor five legs, and its three-wave temporary intra-day rally which can be part of a bigger bearish reversal. If we get another drop in five waves from current levels, and through the lower corrective channel line connected from October lows, then this would be a further suggestion for a bearish continuation. Also swing low at 73.13 level would confirm more weakness.
