Possible Short Trade

Hello traders,  I am going to keep this one short and sweet. Will leave out the fundamentals of why NZD should be heading south (but there are some good reasons… do your own do diligence).  Here is a possible short trade idea on the NZD yen.  If you start with the daily chart, take a look at the series of lower highs developing.  This may be a good area to start taking note of this pair (as well as the AUD/yen).  It may not be ready yet.  But I am watching this pair for a short setup.  Perhaps you could keep this on your radar.  I have drawn in a possible target around the 200 MA near the 64.40 level  Till next time, Happy trading! Michael Storm aka Robinhood.

Daily Chart

1 HR Chart

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