I have been bearish on NZDJPY since the start of the new year. The multi-year high made in December of last year was telling, to put it lightly, that the two-year rally was likely coming to an end. How did I determine that? Let’s just say I’m glad Fibonacci studied what he did. But after a 1,000 pip decline since April, we would expect some type of meaningful rally. And while we have seen some relief rallies along the way, none of them have gained enough traction to be considered meaningful. Another way of saying the above is that the pair continues to look weak at current levels. A great example is the price action ... (full story)