The NZDJPY has moved up to the 79.00 resistance level and rejected lower, forming a bearish pin bar on the daily time frame.

We can see the market is still trapped within a longer term down trend, and thus, we will favour the path of least resistance and enter short positions.

Looking forward, the 79.00 level becomes our reference, and until it is breached, the sell signal is intact. 

The 76.00 level looks to be the most logical nearby support target.

ASR will track this trade as an SMS Support trade – with all important information regarding the trade to be conveyed through SMS updates.

ASR entry only by SMS Alert, but members may enter according to their own discretion based upon the above analysis.

As usual, we will not be risking more than $200 on this trade at our stops.