Nzdjpyanalysis
NZD/JPY SHORT Round 2NZD/JPY Should do a bounce back to test Resistance one more time, where we are looking to short it once again
We will be using the same parameters as previous call yesterday
This time both are sell limits
NZD/JPY SELL LIMIT
Entry 68.650
Entry 2 68.800
sl 69.100
tp.1 68.350
tp.2 68.100
tp.3 67.900
Risk management please .01 or .02 for every 100
Counter Trend defined... NZDJPY Long trade setupPrice found support @67.5 making a Higher Low on the daily chart. I expect a Higher High from this point forward at least to the next historic Support/Resistance level @70.4 and maybe Price will flourish even higher close to 72.0 hitting the long term Down trend line.
NZDJPY Harmonic BAT Analysis and StrategyThis pair is currently trading at a major daily support (red zone) and is forming a Harmonic Bat Pattern . We are predicting the Harmonic Bat Pattern will be completed and we are looking for price action to move towards the upside from this point. We expect price action to complete the pattern between 70.00 - 69.900 before bouncing to the target (green zone). FX:NZDJPY
NZDJPY Weekly Technical Analysis and StrategyWe see price action consolidating into a falling wedge pattern, which is also a reversal patter. Price is at a crucial zone because it is at a major weekly support zone and also at the bottom of the wedge. Therefore, we are predicting a reversal from this zone.
NZD/JPY - Day Trading SellNZD/JPY is failling to make a push up on the 1H chart.
It has broken under the 50 EMA of the 1H chart.
As long as it holds as support, the sell is active.
We can expect the pair to drop to the last low to find it's support for another push back up.
This is a day trade. Wait for good confirmation of the move and enter.
Trade safe.
NZDJPY LongNZDJPY looks to be in a quite healthy trend at the moment.
With the daily candles closing quite bullish, I believe we may still have a bit of an upside to see.
We may very well be in a current Elliot Wave with this wave being the corrective wave number 4.
A retracement to the .236 - .382 fib level would be nice to see & it could make for a nice R/R ratio, targeting the .786 - 1-1 fib extension as for our 5th wave.
Should price break the .382 fib level, this EW probably may not be valid.