Technical Analysis
Currency Pair: NZD/JPY Date: 22/09/2018
Sentiment: BEARISH (Short term)
Monthly
• Moving Averages crossed to the downside
• Price action has on prior months made a double top candlestick pattern
• Price action is currently on a bearish trend
Weekly
• Moving averages crossed to the downside indicating bearish momentum
• Price action making a bearish structure of lower lows and lower highs
• Price currently made a double bottom candlestick pattern
• Price action reacting to the weekly support level of 74.313 having on prior occasions proved to be a strong area
Daily
• Moving averages about to cross to the upside
• Bullish bearish counter trend-line drawn and we await for a third T.L touch
• Potential change in structure may be occurring
• There is a double bottom candlestick formation
4 Hour [Execution Time Frame]
• Moving averages about to cross to the upside
• P.A has been making a higher highs and higher lows which is a bullish structure
• Bearish trend line drawn and expecting a third trend-line touch
• Await P.A to play out
Currency Pair: NZD/JPY Date: 22/09/2018
Sentiment: BEARISH (Short term)
Monthly
• Moving Averages crossed to the downside
• Price action has on prior months made a double top candlestick pattern
• Price action is currently on a bearish trend
Weekly
• Moving averages crossed to the downside indicating bearish momentum
• Price action making a bearish structure of lower lows and lower highs
• Price currently made a double bottom candlestick pattern
• Price action reacting to the weekly support level of 74.313 having on prior occasions proved to be a strong area
Daily
• Moving averages about to cross to the upside
• Bullish bearish counter trend-line drawn and we await for a third T.L touch
• Potential change in structure may be occurring
• There is a double bottom candlestick formation
4 Hour [Execution Time Frame]
• Moving averages about to cross to the upside
• P.A has been making a higher highs and higher lows which is a bullish structure
• Bearish trend line drawn and expecting a third trend-line touch
• Await P.A to play out
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