NZD/JPY technical analysis
- NZD/JPY is in uptrend.
- Market is having a retracement.
- M L3 camarilla pivot is support.
- Uptrend i expected to continue.
- Left shoulder.
- Head.
- Right shoulder.
- Bouncing zone.
- Target.
The price is bullish. However, the pair is retracing and we could estimate the end of a retracement currently around the M L3 camarilla pivot -80.29. However, the JPY is getting strong and this could be only due to the ADP and NFP this week. Positioning is done at important s/r levels prior to the NFP as all JPY and USD markets will be affected. If the daily shows a reversal pattern at the bottom, look for buying the dip. Targets are 81.20 followed by 82.20 and 83.63.
