US Stock Market strength has resulted in the markets perhaps starting to show USD and JPY strength that was leading the FX market before the US intervened in the financial markets.
I would still prefer to stand aside as far as trading the USD, but the NZD/JPY is setting up nicely for a resumption of the downward trend that is seen on the daily chart. The MACD has already crossed over on the 4-hour chart, which for some traders was the signal to sell. Protective stops should be placed above the recent high and traders should look to take profits that are twice that risk for a 1:2 risk:reward ratio.