Nzd-jpy
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.
NZD JPY Long as long as channel holds Is this the start of a shadow channel
a channel that trends below the major level
These are fun to trade and profitable the next few days will confirm
In the meantime we shall stay long until we have a break
NZD/JPY SHORT & BEAR PLAY NZD/JPY has been on three months ascending channel but luck ran out for the bulls as the market broke out of the channel after meeting strong monthly resistance, the market broke out and retested with a long bearish candle on the daily TF with the 200 EMA crossover to the downside. Reasons for shorting this pair;
1. Ascending Channel Break
2. A retest of the channel
3. 200 EMA cross over to the downside
SHORT NZDJPY Approaching Resistance, Potential Reversal!NZDJPY is approaching its resistance at 75.44(61.8% Fibonacci extension , 38.2% Fibonacci retracement , horizontal pullback resistance) where it could reverse down to its support at 74.92 (61.8% Fibonacci retracement , horizontal overlap support).
Stochastic (21, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected. 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 Reversal!NZDJPY is approaching its resistance at 75.44(61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it could reverse down to its support at 74.92 (61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (21, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
