NZD/JPY Sentiment Swings Bullish

TradeProofer’s NZDJPY sentiment has swung bullish, and the daily bullish structure is still in tact. This is despite the recent sell off having strong momentum.

NZD/JPY Sentiment, 29 Nov 2021

NZD/JPY has traded into the previous resistance trendline which may act as a support. Price has been extremely bearish over the last few trading days, as traders look to hedge risk as the new Omicron Covid-19 strain is spreading.

The pairs daily bullish structure still remains in place as you can see below, with the recent low lying at 76.338.

NZD/JPY 1D Chart, 29 Nov 2021

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