Bearish NZDJPY - 02 December 2024

EURUSD Forex

NZDJPY

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 4 Hour time frame chart supports NZDJPY Bearish bias. A break of 89.590 will support the fall towards the target of 88.315 the break of 88.315 would push the price to 87.465.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 88.426
Support S1: 88.393, S2: 88.346 , S3: 88.313
Resistance R1: 88.473 , R2: 88.506 , R3: 88.553

Brokers

Open account

Summary

Instrument :

NZDJPY

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

60%

Entry Level :

89.590

Activation Time :

2024-11-26 02:00

Age :

27 Bars

Progress :

100%

Close Time :

2024-12-02 10:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

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Descending Triangle

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish.