NZDJPY is forming a wedge pattern near the bottom of a descending channel, I will wait for price to break out of this wedge pattern one way or the other before considering long or short positions.
NZDUSD has traded back into the 61.8% fib area pulled from the most recent swing high and low, price may reject this area and continue to the downside. I will need to see a break of the ascending trend line before short trades can be considered. A break of this trend line and recent swing low support, followed by a retest and rejection could open the door for shorting down to the previous swing low, and the D1 and D2 extensions. I would need to see price above the 50 EMA before considering any long positions.
