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Nzd_jpy

NZD/JPY SHORTOn the daily charts we have seen bullish momentum test the resistance level of 76.046 4 times over the period of last week, this level also coincides with my 25% fib level (75.783) hinting the bullish pressure is coming to an end, with fridays close at 75.501 with an extensive false break towards the upside leaving friday's daily range at a high of 76.605 on top of that we see the close below the 25% fib level at a value of 75.501 further cementing my convictions for a short towards the the trend line which intersects my band of resistance levels at 73.514-73.244 this will be my target for this trade.and depending on the fundamentals i will then enter long towards that major resistance level (76.046) for the potential bull run. with my final target at the descending trend line. I also have US crude oil as a leading indicator to help me gauge the strength in JPY appreciation against the NZD, oil has failed three times to close above the key level of 33.24 after establishing a new lows at the 27.08-26.00 in February, price on the daily charts and the RSI indicates that this bull run has come to an end and that price may establish new lows as the oil situation lacks clarity and direction in regards to curbing output and in effect stabilisation of the oil markets due to geo-political events. Also price on oil has tested a descending trend line taken from the June 2014 highs meeting at the highs of both October and November. In this climate of uncertainty for the outlook of oil we can expect the yen to appreciate further against other majors due to the technicals shown in oil and the recent information given to us via news sources of the BoJ's willingness not to intervene in regards to devaluing the yen any further via means of increased monetary stimulus with the BoJ to meet on 14/02/2016 and the RBNZ scheduled to meet on the 9th i think we can see the yen push for new highs against its majors as this weeks economic calendar carries little event risk for both these economies with impending bank talks due in the latter weeks ahead. i will be looking to enter at the highest price possible at the 60% fib value of fridays range around the 76.046 area if the technicals confirm however i will be watching closely to get the best entry for this pair as it can be quite a fast mover.
Short
by malachi-hibbert
2
NZD Strength Continues to GrowWhile much of the world struggles with debt management (EU & Greece), falling commodity prices (Russia & Australia), or political gridlock (USA) New Zealand quietly grows their economy and with the highest Fed Funds rate of any popularly traded currency. Today's data point: New Zealand Business Confidence which rose to 35.8. This rise marks the fifth consecutive month of growth. Japan searches for solutions for deflation such as QE which gives the Kiwi room to rise. See the chart.
Long
by positionforex
NZD/JPY Prepare for 1000 pips +We already got major trend change for NZD/JPY but we are only waiting for good entry!! We may not reach previous structure for entry but we will have to entry earlier after breakdown of retracment up to EMA 36. Using heikin ashi candles helps us that so after breakdown of retracment i will short it defnitely. Resons for trend change are already written on the chart : 1. We have got valid double top 2. Later existing support hold price and made extreme structure which now reacts as a resistance 3. After that we have got LH (lower high) which signals us trend weakning 4. And after that we have got straight breakdown of EMA 200 + that major structure + trendline even before 5. We are getting LL at this moment (Lower low) Our stop loss is little above the structure but anyway we have rules to exit trades after breaking structure differently which save us a lot of pips (manual exits if trade goes wrong with rules ofcourse) Target will be major PRZ down there at 75.000. Remember to split your trade in at least 2 or 3 positions so you can close it at minor PRZs and EMA 633 exit. How to trail it? I personaly like trailing it above EMA 36 which is very good by the results. If you want to be more agressive, trail it above EMA 12 or even above retracments. We expect around 1500 pips + with several positions or even more. Best regards
Short
by AcademyInvestment
15