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Today NZDJPY saw the largest one-day drop since January. The pair is certainly starting to look like a market that is topping. A close below the 85.85 area should confirm the double top from April to July.
From a broader perspective, this market has a lot of room to run if we see it start to slip further.
And if we move to the monthly chart it becomes apparent that the market has a history of running into trouble at current levels.
Summary: Wait for a break below the support area between 85.70 and 85.85 and then watch for a retest. Possible target for the double top (if confirmed) is around 82.10.
USDCAD analysis
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