NZD/JPY Developing Distribution Phase

 | Feb 05, 2017 08:54AM ET

NZD/JPY daily after having long upride is in accumulation phase. Bearish TOTAL 2 harmonic has established on the daily chart with PRZ validated. On H4 it has established double top, also developing distribution phase. Go short on breakout of distribution phase and monitor Fib levels for support levels needed to be considered. Further wolf wave action activated not yet completed a confluence toward bearish rally (day trader opportunity).