Technical analysis of NZD/CHF
USD/JPY: opportunity to have correction
The price has been declining since the last "Harami" formed. At the same time, there's an opportunity to have an upward correction. However, if the 34 Moving Average acts as resistance, there'll be an opportunity to have another decline.
There's a "High Wave", which has been formed at the local high. It's likely that the pair is going to test the Moving Averages, which could be a departure point for a decline.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.