NZDJPY Break and retest cycle will it reach 2020 high ?NZDJPY
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⏳Day chart
🎲 Detailed analysis
⛳️Bullish entry
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Detailed analysis 💬
1️⃣ Notable break and retest happens twice
2️⃣ 71.630 Multi month highs strong support
3️⃣ Positive risk sentiment, Vaccine news
4️⃣ 72.00 Dynamic support and resistance
5️⃣73.600 acted as strong resistance-Key trend reversal area
6️⃣ 70.110 50% Fibonacci will Acted as strong support/Point of control coincidence
7️⃣ Technical support - Bullish
8️⃣ 73.600 will acted as key reversal-bearish
9️⃣ 2020 High will act as alternative bearish entry-Double top formation
🔟 Possible swing target-73.600
#️⃣ Overall long-term trend- Bullish
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📉 Technical bias-Day-Bullish
Price is above 50,100,200 Exponential moving average
50,100 Exponential moving average will act as support-Bullish
Relative strength index - well above 60 - Bullish trend
MACD -Histogram is slowly fading towards red, Oscillators about to cross soon
Stochastic - Reached around 75- overbought condition will give a short term fall back expected
Ichimoku cloud -cloud is still green-Price is well above the cloud
Bollinger band- Price reached around the upper side of the band-Short term bearish correction towards middle band was expected
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Key reversal area's
70.000 psychological level
70.110Point of control area Volume analysis
71.670 June,July,August month highs
69.000 Lower side of the recent consolidation phase
73.000 Major psychological level
73.660 Possible entry- Bear
73.660 Trendline resistance/Alternative Bearish entry
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Bearish entry #yen #kiwi #nzdjpy
Entry price - 72.150
Take profit 01 - 72.800
Take profit 02 - 73.600
🚫 Stop lose 71.200
⬆️ 2.00 Growth expected
⤴️ Account growth 1: 2
✅ Risk reward ratio 1 : 2
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Nzdjpyforecast
NZDJPY - Big short sell opportunity almost readyLike I said before i’m anticipating for a big bearish move on NJ when it reached the top of daily ascending channel. However, as I said, we must never take any short trade blindly but to wait for the market to give us any confirmation because the price reach this area in impulsive leg.
After that, thir pair continue to move upside seems like breaking the ascending channel structure. However, I never changed my bias and still looking for a short sell entry. I’m already anticipating this kind of fake move because it’s a typical market nature to catch people on the wrong side.
Now, that the price has broken back into the channel, the probabilty of this pair will go lower have become higher in my opinion. I will now just anticipating the price to form a corrective structure. In high probability area like this, even small corrective structure
Any break from any bearish continuation pattern now will trigger my short sell entry with sl above the corrective structure with target up to the low of the descending channel and can even go lower depending on how the market reach that area.
Massive reward available in front of us,. Lets see if we can capitalize it or not now...
Good Luck
NZDJPY - A big short opportunity may present it selfGNZDPY is at the top of corrective ascending channel right now. It reach this area impulsively. The price already got a little rejected right now. I will wait for this rejection to go a little further. After that,if i get a bearish continuation pattern to confirm the move to the downside, i will happily take short trade at the break of the continuation pattern as i draw in the chart. On the other hand, if i dont get the confirmation i will still be watching this pair from the sideline
NZD/JPY SELL IDEAHey tradomaniacs,
welcome to a new free trading-setup.
Notice: This is meant to be a preparation for you. As always we will have to wait for a confirmation!
NZD/JPY: Daytrade-Preparation
Market-Sell: 69,150
Stop-Loss: 69,415
Target 1: 68,895
Target 2: 68,690
Target 3: 68,490
Stop-Loss: 27 pips
Risk: 0,5% - 1%
Risk-Reward: 2,50
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Peace and good trades
Irasor
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NZDJPY is in uptrend and approaching Price action levelNZDJPY
After peaking the September month high around 72.00 which is a key psychological level its felled towards 68.640 which is a low volume area and find some buyers and making series of Higher high higher low patterns.
From Sep-09 to Sep-18 it was trading in a range and felled below the range. I have marked some levels are acting as accumulation and distribution phases after some consolidation phase its moved in a massive way.
The price is currently in a consolidation range at around 70.00 key psychological level. From this level we can expect bullish run towards 71.200 which is price action level where we can see a series of upper side rejection.This level is coordinated with 78.6% Fibonacci level
The price is currently trading within a.50 and .618 Fibonacci levels.As its reached the upper side of the .50 Fibonacci we can expect a minor correction towards .382 Fibonacci and from this level it will go bullish.
The 03 Exponential moving averages which is 50,100,200 are holding as support for the bull.
In Elliot wave theory the 4th impulse wave is completed and the 5th wave is underway. relative strength index has reached the 60 level and MACD histogram showing a starting of the bullish trend.
Ichimoku cloud is acting as support for the bull as its managed to float above the cloud.Buying NZDJPY around 69.900 with the target of 71.150 will give a nice risk reward ratio. Stop lose may placed below the 4th Elliot wave end point which is 69.600
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NZD/JPY BUY SIGNAL Hey tradomaniacs,
welcome to new free trade-setup.
Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmation!
NZD/JPY: Day-Swingtrade-Execution
Market-Buy: 71,115
Stop-Loss: 70,515
Target 1: 71,600
Target 2: 71,900
Target 3: 72,400
Stop-Loss: 50 pips
Risk: 0,5% - 1%
Risk-Reward: 2,60
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
NZD/JPY - ForecastAs you can see NZD/JPY recently broke above the consolidation/Ranging level. and has RETESTED it.
Now we need to see if this was a fake breakout or it will actually continue in Buy.
if it comes back in the consolidation range then it was a fake breakout BUT if it breaks above the previous structure at around 71.950 then it should continue going up till next resistance level which is at around 73.45.
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If you have a better idea or you disagree with me then please let me know in the comments
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NZDJPY H1 SHORT PRICE ACTION FORECAST With price action trading within an ascending channel and managing to break through a meaningful level, we could expect a pullback to trigger a sell order as price should continue its bearish momentum towards the channel's support line.
The order:
Type: sell-limit
S/L: 10 pips - R:R | 1:2 -
T/P: ascending trendline
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NZDJPY H4 SHORT PRICE ACTION FORECAST This pair's price action is forming an H&S pattern at the H4 intraday timeframe. From a broader look in the weekly realm, it closed last week at the same level of a previous high (for another double-top) and with a precise bearish pin bar for a clear reading on the force form a downward movement ahead.
However, it has kept into consolidation trough out this week, with mixed signals without explicit confirmation of a downtrend. A second double top has just formed in the intraday, reason why a short entry is going to be taken after the breakout and re-test of the drawing area.
The order:
Type: sell-limit
S/L: 44 pips - R:R | 1:2.6 -
T/P: previous high
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NZDJPY H4 SHORT PRICE ACTION FORECAST Price has been trading with a descending channel (hornet) quickly spotted from the D1 domain. It was able to break the resistance line from the structure only to form a clear double top pattern, confirming a downtrend movement.
Currently finding strong support as expected on the 200MA acting at the last line of defense before the massive downward momentum. If the price manages to break through the current level, a short entry will be waiting for it, with an extensive R:R ratio if price respects the more significant structure.
The order:
Type: sell-limit
S/L: 66 pips - R:R | 1:5 -
T/P: aiming towards the next support level
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NZDJPY H1 SHORT PRICE ACTION FORECAST Price action has been compressing, forming a triangle pattern. And from the D1 domain price has respected the descending trendline, finding rejection from that level. Technically speaking, the pair looks under bearish momentum after the consolidation with the formed pattern.
Short entry at the 4th touch is placed with the following characteristics.
The order:
Type: sell-limit
S/L: 24 pips - R:R | 1:2.6 -
T/P: next support from previous consolidation level
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NZDJPY H4 LONG PRICE ACTION FORECASTThe pair shows some bullish momentum with the New Zealand dollar. After the breakout of the previous support level, a retest over the broken level is expected before the uptrend continuation, allowing the setup of a long entry with a decent R:R
The order:
Type: buy-limit
S/L: 36 pips - R:R | 1:2 -
T/P: previous confluence zone from support and trendline
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NZDJPY H1 SHORT PRICE ACTION FORECAST New Zealand dollar under sellers pressure has recently formed HL&LL pattern, looking forward to price action to break the support continues blue line from D1, for a retest an entry in the market with a short sell order.
The order:
Type: sell-limit
S/L: 20 pips - R:R | 1:2.3 -
T/P: previous confluence zone from support and trendline
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NZDJPY | DAILY SESSION | LONGLooking for a drive back up towards the VWAP. This might be a patience game but we have a good stoploss at 70.300
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Strong: NZD
Weak: JPY
This trade is valid until 09/07/2020 @ 9 pm BST.
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NZDJPY H1 LONG PRICE ACTION FORECAST As price managed to break its previous consolidation from the Asian session, remaining in a bullish trend, with the smaller exponential moving averages about to cross in a golden move in H4 domain, a long entry is placed
The order:
Type: buy-stop
S/L: 52 pips - R:R | 1:2 -
T/P: aiming towards the resistance
NZD/JPY Technical Analysis
The counter has been declining steadily ever since it hit the high of 71.663.
However, it has now found support the levels of 68.226 amid testing it twice.
It has formed a bullish pinbar followed by three white soldiers, which is a powerful reversal signal.
Further, it has crossed the bearish trendline with a strong bullish candle.
Hence, we expect the pair to move to resistance placed around 70.000 level.
NZDJPY H4 SHORT PRICE ACTION FORECAST With the price in consolidation within an ascending channel, wherefrom a W1 outlook price has just found rejection from the resistance trendline, under a bearish bias, allows for the following setups:
Position 1:
Price continues to form the channel reaching the resistance level with a buy-limit order
S/L: 145 pips - R:R | 1:3
T/P: aiming towards the demand zone
Position 2:
Price can manage to breakout support line form the channel, triggering order with the following price correction with a buy-limit order
S/L: 120 pips - R:R | 1:2
T/P: aiming towards the demand zone