NZDJPY Buy 240
Price 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.
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.
All the analysis is based on techniques from:
urbanforex.com/
Check out our in house strength meter app we use for all our analysis on the app store.
FX Meter : itunes.apple.com/us/app/fx-meter/id1286671384?ls=1&mt=8
urbanforex.com/
Check out our in house strength meter app we use for all our analysis on the app store.
FX Meter : itunes.apple.com/us/app/fx-meter/id1286671384?ls=1&mt=8
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
All the analysis is based on techniques from:
urbanforex.com/
Check out our in house strength meter app we use for all our analysis on the app store.
FX Meter : itunes.apple.com/us/app/fx-meter/id1286671384?ls=1&mt=8
urbanforex.com/
Check out our in house strength meter app we use for all our analysis on the app store.
FX Meter : itunes.apple.com/us/app/fx-meter/id1286671384?ls=1&mt=8
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.