Nzdjpylong
Long NZDJPY from 76.06 for 25pips profit targetVery strong volume on 4hr chart for NZDJPY. I would like to go long from 76.06 for 25pip target. RR of 1, I would keep 25pip as SL. Good Luck.
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As usual don't trade +/- 5 min from the red news for the pair
NZD/JPY Technical AnalysisNZD/JPY started its downtrend rally in the mid of 2016. It made a strong reversal pattern of round bottom formation, but was not able to make a bullish crossover above the resistance of 83.741.
Then it tried to make a trend reversal by forming an inverse head and shoulder pattern. Still, it was not able to make a bullish crossover. Two strong bullish reversal patterns have been negated by the bears which indicate their strong confidence.
It was then followed by a continuation pattern of descending triangle, the highs (peaks) reduced constantly, but the lows (troughs) remained constant. It indicates that the bulls are not confident to buy at higher levels.
If you are a moving average trader, then you can clearly see that the pair has consistently traded below 200 SMA too and it is acting as a strong resistance. Recently the pair witnessed strong rejections from 21EMA level with a gravestone doji. Both these are strong downtrend indications.
Knockout vs Counterattack
The pair has made a breakout below the long term support levels of 75.954. It was then followed by a hammer candlestick which indicate a fight back from bulls. So this week's closing price is going to make a long term impact on the counter. If it fails to close with a strong bull candle above the support zone, then the long awaited downward move becomes inevitable.
Seems like an exciting final on the cards now. Bull’s counterattack vs bears knockout blow!! Stay tuned with us for more updates.
Chart time: Weekly
Yellow line:200 SMA
White line:21 EMA
Pink:Support,Resistance and Trendline
NZDJPY approaching resistance, potential drop! Price is approaching our first resistance at 76.17 (horizontal swing high resistance, 38.2%, 50% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong reaction might occur below this level pushing price down to our major support at 74.91 (horizontal pullback support, 100% Fibonacci extension ).
Stochastic (55,5,3) is also reacting off resistance where we might see a further drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDJPY approaching resistance, potential drop! NZDJPY is approaching our first resistance at 76.17 (horizontal swing high resistance, 38.2%, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 74.91 (horizontal pullback support, 100% Fibonacci extension).
Stochastic (55,5,3) is approaching resistance we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZD/JPY has Shown a risky Buy signalNZD/JPY bounced from 5 weekly low
It is a risky deal. Use half of your lot size.
As you see on chart price break key level 74.54 after currency rate moved up. From this level, the price can make a Pull Beak up (300 – 400 pips.)
Open a deal near; 0.7460
S/L: 0.7435
T/P: 0.7757
NZDJPY Goes down for touch Support zone Before goes up.NZDJPY Goes down for touch Support zone Before goes up.
NZDJPY Buy 240I still like this as a buy. Correlation is currently the leader and with NZD weakness and JPY strength price is still pushing down, but is struggling to do so.
From the daily view we are at a double bottom and momentum is fading as we reach the low. From the 4h I see we have divergence showing up and price is over extended to the down side. Couple this with the double bottom and I am definitely on hold from any sells at the moment. I would like to see buyers show up strong make it to previous highs. Then watch the sellers struggle and I will look to buy this.
CADJPY and USDJPY are sister pairs and I am seeing JPY strength fade. I believe CADJPY and USDJPY are the leaders of the pack with NZDJPY soon to follow.
NZDJPY Buy 240Price has moved down to a key area from the daily TF. I saw momentum slowing on the 4h and then we created a range. I was expecting price to probe down before we can move higher to get the best price for buyers. This sudden move down also create divergence in the market. I took the trade with anticipation price is going to bounce from the 75.26 handle. I waited a little bit to see buyers start to show up.
I am waiting to see how the buyers perform before I place a TP. I anticipate this to be a decent move up. My only hesitation at the moment is JPY correlation. I show that JPY is strong and NZD is weak. But I am also seeing JPY is at key levels on all other crosses, so this tells me this could be a leading pair to start the JPY weakness.
Entry: 75.365
SL: 75.16
TP: to be determined.
nzdjpy longWaiting for a pullback into the previous daily bar to go long. This is another trader's trap working off S/R, like the cadjpy long trade. We will see which one works or if both fail.
NZDJPY- Bull FlagI took an enter on Trender Rules for a long move than 15 min target. See previous NJDJPY chart
NZDJPY Approaching Support, Potential Bounce!NZDJPY is approaching its support at 75.40 (76.4% Fibonacci retracement, horizontal overlap support) where it could potentially bounce up to its resistance at 76.24 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, Horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 6.09% where a corresponding bounce could occur.
NZDJPY approaching support, potential bounce!NZDJPY is approaching its support at 76.21 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, Horizontal overlap support) wherea bounce could occur, causing price to rise to its resistance at 77.5 (100% Fibonacci extension, horizontal swing high resistance).
Stochastic ( 55, 5, 3) is testing its support at at 6% where a corresponding bounce could occur.
