NZDJPY: Nice Level to Watch for Shorts

On its way up price found resistance at the upper parallel of the descending channel, ot bounced and broke below the smaller rising channel. It's now correcting and heading once again to to test the upper paraller of the larger channel. When it reaches the trendline start watching for a sell setup completion

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Kommentera:

Price reached the upper parallel of the descending channel and in addition the broken parallel of the small rising channel. Start watching for a sell setup at current level:

Kommentera:

Price reached the sliding parallel as expected. We now better keep a closer eye in order to see how structure develops in order to take our future decision. What i believe is that price will make a correction and head down breaking below the sliding parallel. I will re update the post and analyze what comes next..!