NZDUSD Bearish Engulfing Hourly Chart
Resistance: 0.8188 strong / 0.8227 moderate / 0.8262 minor
Support: 0.8153 moderate / 0.8114 minor / 0.8079 minor
Bearish Engulfing is just under the pivot point in NZDUSD Hourly charts, a moderate bearish pattern below a strong resistance. Given proximity to 0.8188, we can consider shorts under the said price with stops placed above the Pivot Point for a low risk-high reward trade. Immediate objective is 0.8153 then on to 0.8114 break of which gives us a run on the market.
USDJPY Bearish Engulfing Hourly Chart
Resistance: 78.39 strong / 78.70 moderate / 79.07 minor
Support: 78.02 moderate / 77.71 minor / 77.34 minor
USDJPY has a bias for the sell-side. Hourly charts also have a Bearish Engulfing confirming market direction though proximity to a moderate support at 78.02 suggests we should wait for a close below it before jumping short. The immediate target of any sell-off is 77.71 break of which sees 77.34. Stops should be placed above the pattern high.