NZD/JPY Double Top at Major Resistance — Bearish Reversal Ahead?
NZD/JPY is showing signs of a potential bearish reversal after failing to break above the 95.40–95.46 resistance zone for a second time.
The price action resembles a double-top formation, while momentum indicators are also weakening:
RSI has turned lower after approaching overbought territory.
MACD has formed a bearish crossover and momentum continues to fade.
Price remains rejected beneath the key resistance area.
Trade idea
Entry: 94.55
Target 1: 94.07
Target 2: 93.21
Target 3: 91.96
Invalidation: Above 95.46
The pattern is not fully confirmed yet. A decisive break below the 94.07 neckline area would strengthen the bearish scenario and could open the way toward the lower targets.
This is a technical analysis idea for educational purposes only, not financial advice. What do you think—will the double top be confirmed, or can NZD/JPY break through resistance?
The price action resembles a double-top formation, while momentum indicators are also weakening:
RSI has turned lower after approaching overbought territory.
MACD has formed a bearish crossover and momentum continues to fade.
Price remains rejected beneath the key resistance area.
Trade idea
Entry: 94.55
Target 1: 94.07
Target 2: 93.21
Target 3: 91.96
Invalidation: Above 95.46
The pattern is not fully confirmed yet. A decisive break below the 94.07 neckline area would strengthen the bearish scenario and could open the way toward the lower targets.
This is a technical analysis idea for educational purposes only, not financial advice. What do you think—will the double top be confirmed, or can NZD/JPY break through resistance?
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
More setups, updates & documented results:
Join my free FBMR Trading Telegram channel:
t.me/+5MMyc0_HQ9M3OGU0
📊 247 Closed Ideas | 192 Profitable | 78.05% Historical Success Rate so far
Join my free FBMR Trading Telegram channel:
t.me/+5MMyc0_HQ9M3OGU0
📊 247 Closed Ideas | 192 Profitable | 78.05% Historical Success Rate so far
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.