NZDJPY Interesting Development, Still Eyeing the Sell

Hi everyone:

Here on NZDJPY, we are seeing some structure evolving to a bigger consolidation,
but the overall higher time frame to me can still be bearish, as long as the right price action develop.

We can after the bearish impulse phase, price begin to consolidate,
and the bigger, longer the correction gets, the more likely another impulse phase can follow.

We see the latest development has shown a potential H and S pattern, and if the right shoulder can continue down,
follow by continuation correction on the LTFs, then it can push the price lower.

Alternatively, price can move up once more to the top of the larger structure, and if there is reversal price action, can still confirm the downside move.

Thank you

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