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Nzdjpylong

NZDJPY facing bullish pressure | 1st July 2021NZDJPY is facing bullish pressure as it holds above moving average support and MACD holds above 0 line. We could see further upside above Buy Entry, in line with 50% Fibonacci retracement, 78.6% Fibonacci extension, and horizontal pullback support, towards Take Profit, in line with 78.6% Fibonacci retracement, 78.6% Fibonacci extension, and horizontal pullback resistance. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by FXCM
1
NZDJPY - BULLISH BIASNZD - BULLISH 1️⃣ New Zealand’s GDP rose 1.6% quarter-on-quarter in the first quarter of 2021 after a revised 1.0% contraction in the previous period and against market expectations for a 0.5% surge. It is the biggest expansion since the 3rd quarter of 2019. 2️⃣ As a high-beta currency, risk-on market sentiment can give the NZD an advantage. 3️⃣ The Reserve Bank of New Zealand (RBNZ) may halt quantitative easing (QE) in the coming months as it prepares to raise rates, which also adds that market pricing indicates a more than 50% possibility of an OCR hike in November. JPY - BEARISH 1️⃣ Positive global market sentiment could put pressure on safe-haven currencies like the JPY. ===== TECHNICAL ===== - We're buying this pair on pivot point + moving average area on H1 chart.
Long
by MonsunAsia
NZD/JPY with a nice long-opportunity!Hey tradomanicas, looking at NZD/JPY I see a great long-chance as price just broke out of its previous correction. After multiple tests of the accumulation-zone with previous high momentum it looks like price is ready to move up very soon. Stop-Loss-Fishings indicate that retailers were long and already taken out, which is another strong evidence for a long-scenario here as big players are grabbing liquidity. Technically we see a breakout which could attract more buyers to hop in! LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me
Long
by Trading2ez
1
'leap' of faith for further longLast Friday's formation of 4H TF bullish sign is not convincing, however overall it went up well above the lower trend line and strong sign of recovery from previous day's sell off (Note: I already took profit on Friday at 79). it could be just Friday's TP but if it breaks 79.05 it may jump higher to form a new confirmed 4h uptrend which from the chart seems an easy job if not done already during the weekend. Just my cents. If it goes downhill, I don't think it can easily break 78.5 as it's near the limit to break the weekly trend line up and a well formed demand base.
Long
by mleader1