NZDJPY Short Trade *TRENDLINE & FIB BOUNCE*Simple trend continuation. Consecutive 4hr lower highs made, price has now reached the bearish TL and Fib 0.786 level.
Short trades targeting new lower lows at 70.00
Nzd-jpy
NZDJPY approaching resitsance, potential drop! Price is approaching our first resistance (horizontal swing high resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement) where we might see a drop below this level to our first support level (61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish bias.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDJPY Breaking Through Support with Currency Strength/WeaknessGood morning traders. The Kiwi Yen is breaking support to the downside with weakness in the NZD pairs & supporting strength from the Yen.
Here's the performance of the two currencies since the start of the London session this morning.
NZD Pairs:
NZDUSD -0.33%
NZDCHF -0.34%
NZDCAD -0.17%
NZDJPY -0.34%
AUDNZD +0.13%
GBPNZD +0.19%
EURNZD +0.24%
JPY Pairs:
USDJPY +0.00%
EURJPY -0.09%
GBPJPY -0.15%
AUDJPY -0.20%
CHFJPY +0.00%
NZDJPY -0.33%
CADJPY -0.16%
As always we use a 2:1 Risk-Reward on all our trades. Good luck!
NZDJPY - SHORT POSSIBILITYSELL POSIBILITY ON THE UPTREND BREAKOUT, YES IT WILL BREAK BECAUSE THAT'S A FAKE OUT BULL !
NZDJPY FOR A LONG TP: 73.000There is enough support for NZDJPY to go for a long to hit a take profit at 73.000 for the next couple of days.
NZD/JPY SHORT SCAL TRADE. NZD/JPY JUST HIT A RESISTANCE ON THE 1HR TIMEFRAME. IT SEEMS AS THO ITS GOING TO HONOR ITS SMALL TIME FRAME TREND AND REJECT THE PRICE.
NZD/JPY – Bears are in full control The NZD/JPY currency pair on the 4-hour time frame has been following a downtrend recently. The price reached the lowest level of 2019 at 71.859 on 8 May. The recent action in the NZD/JPY is mainly driven by the recent interest rate decision by the Reserve Bank of New Zealand.
The 4-hour chart of the NZD/JPY confirms the negative sentiment in the price movement as the currency pair is making successively lower tops and lower bottoms.
By applying Oscillators Analysis, all three indicators confirm the negative bias in the market. As the chart shows, price is well below the 200-period Moving Average. The MACD (Moving Average Convergence/Divergence) is recording values below the zero-line which shows negative sentiment in the NZD/JPY. RSI (Relative Strength Index) showing values below 50 which supports the bearish sentiment.
In alternative scenario, key resistance level lies at 74.602. Bulls must break this level in order to regain bullish sentiment in the market.
NZDJPY SHORT SETUPLooking for a retracement all the way to the trend line or 61.8 and then waiting for a reversal pattern to form before going short.
NZD-JPY crawling back to 75.000 where bears are ready to pounce.NZD-JPY crawling back to 75.000 where bears are ready to pounce.
NZDJPY INTRADAY - Bearish BreakoutExpect next major support to be tested.
Price may retest breakout point, which would be optimal entry.
NZDJPY TRADE IDEA50% of the big bearish engulfing candle has been hit 3 times
Strong price reversal zone marked out at 50% of the bullish engulfing candle
So we could see a retest of that zone to break to the upside which would be an MA bounce and could give us 2 entries/stack zones
Don't miss the great buy opportunity in NZDJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (75.2). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 75.88
TP2= @ 76.20
TP3= @ 76.65
SL= @ 74.73
Don't miss the great buy opportunity in NZDJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (75.2). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 75.88
TP2= @ 76.20
TP3= @ 76.65
SL= @ 74.73
NZD/JPY BUYHi All ,
Opening a buy on this pair .
Price label on entry and SL and TPs.
as always SL to entry .
Many Thanks.
NZDJPY Approaching Resistance, Prepare For A Reversal
NZDJPY is approaching its resistance at 75.524 (61.8%% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 74.849(100% Fibonacci extension, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
