The ascending trendline is still providing support for the NZDJPY and structure levels are being broken to the upside. Traders anticipate a 70 pips move to the upside and break above the resistance zone.
EURAUD broke below the ascending channel after rejecting the daily resistance zone. Recently a descending channel has formed however the market is currently at the support zone. Traders anticipate the market to break the support and form a lower low before looking for short opportunities.
GBPNZD has dropped +50 pips since the last commentary and is shifting momentum to the downside as seen by the rejection from the resistance zone and a break below the trendline as well as structure levels. Traders are already in short positions and anticipate a daily lower low to form. A retracement will be seen as an opportunity for more downside.