NZDJPY ABCD complete and showing promising bullish action

11 thg 8, 2014

**WT +110** NZDJPY has reached the PRZ and immediately bounced right out of it. Before entering the PRZ price also had bullish reaction to the edge of the PRZ. The abcd pattern drawn in red has completed and price has lost momentum to the downside in the final leg down. Since I am seeing diminishing strength of the bearish trend, I will look to buy expecting a move to the last lower high in price structure