NZDJPY is approaching our first resistance at 72.86 (horizontal pullback resistance, 23.6% Fibonacci retracement, 61.8%, 78.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 72.38 (horizontal swing low support).
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
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