FX:NZDJPY   Новозеландский доллар / Японская иена
Due to the fact that theres downward pressure on the higher time frame (4hr) I believe that bears are winning at the moment. Meaning I am looking for short positions. BUT, I need help understanding what to do if price is still over 200 EMA AND consolidating at a tested support zone. If my predictions are right, there will be a break of support, making a new LL, then price will retest the prior support, which is now resistance. Following the retest, price will then continue the downward trend breaking through LL making new LLs. Price is also forming a descending wedge. Adding confluence to the short position. Please, let me know what you think!
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