NZDJPY: Potential downtrend continuation

The gap up gave a tighter entry in this pair. If you didn't short at market open, you can enter on a break of Friday's close or Friday's low, or at market, depending on your risk appetite. Stop loss should be as depicted on chart. If we break down with sufficient force, the monthly downtrend target on chart might get hit.
If this downtrend is to pan out, we'll be returning to a monthly uptrend mode below, which acts as a magnetic level, once the level above is broken down convincingly.
I like how the price action around the previous RBNZ rate cuts has given us clear indications of where the range would get capped, and it seems to be the case once again.

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This one was painful, briefly, but moving well now.

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You can cover 2/3s of the trade and move stops to entry price.