Shooting star of NZD/JPY?

Shooting star of NZD/JPY?

On the daily chart of NZD/JPY, on Monday, July 22, the pair formed a shooting star candlestick. It may be a signal of the short-term reversal.

If the pair breaks below 72.63, we should expect a further decline to 72.34. The signal of the candlestick will not be confirmed if the pair stays above 72.63 and bulls gain force. In this case, we can anticipate a continuation of the movement up. The first resistance is located at 73.14. A break above this level will lead NZD/JPY to 73.45. 

NZDJPYDaily.png

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