Daily chart of pair NZD/JPY indicates a likely weakness of demand. Recently price fell, breaking local support. What is now happening under resistance also points to advantage of bears. Any attempt to rebound upwards is quite quickly denied, hence we have few long upper shadows in this area.

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On H4 chart we see a clear system of lower and lower highs. The last two corrections have similar range and double rebound from local resistance suggests the possibility of further declines. It seems that, in such an environment, possibility of decreases is higher than a chance that the bearish trend will end.

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