USD/JPY has formed a head and shoulder pattern.
It broke the neckline, made a follow through rally and is currently retracing back to test the neckline.
We expect the neckline to hold resistance which can be a good entry point for a short trade.
EUR/NZD has broken its bearish trend line in the 1-hour chart.
It has also broken the key resistance of 1.66908 and is consolidating with range bound movements.
Hence we expect the pair to continue its bullish momentum and reach the resistances at 1.67627 and 1.68098.