NZDJPY broke at the end of last week key support area around 80.50 level. Thus was confirmed formation of double top, which was subject of analysis in last week.
The current week began with over 30 pips bearish gap, which confirms bearish attitude on this pair. We can now therefore seek opportunities to short selling after pull backs.
An opportunity to take short position can be a test of resistance at the 80.50 area, which previously was a support zone, as well as the line of the downtrend visible on the daily chart below.
As a signal of end of the correction in to areas of resistance you can use moment of change of sequence of growing lows and highs on the 30M chart.
