NZDJPY facing bearish pressure, drop incoming!

Prices are facing bearish pressure and might continue its bearish moves downwards if it breaks through support level which coincides with 127.2% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push down further and take support from 161.8% Fibonacci retracement and 127.2% Fibonacci extension. If prices reverses from pivot, prices might face resistance from horizontal swing high resistance in line with 50% Fibonacci retracement and 50% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.