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Nzdjpyidea

NZDJPY, daily tf, bulls in control for nowHello my friends, Another setup for next week is NZDJPY pairs. As you can see NZDJPY pretty much bullish since breaking above the 5 months flag pattern. For me, there is still further upside for this pair. The measured objective of that 5 months flag pattern was around 800-900 pips in my opinion. We could see NZDJPY continue to the upside until 76-77 area. Long/Buy positons will be in favor for now and we will only look to buy this pair. As you can see price right now consolidating inside a possible bullish continuation pattern right now. This could be a pennant / flag pattern. We will try taking a buy position at 73.35 area for our first buy position. This 73.35 area is our horizontal support and possibly flag/pennat pattern support. EMA-20 are also located near this area so pretty much it will be an area of confluences. As price continue higher and make another pattern which is favorable for bulls, we will add more positions. Buy limit NZDJPY 73.35 Stop loss 73.00 Take profit 75.65 (6.5 R) RR Ratio 1 : 6.5 Use only 1-2% risk Good luck
Long
by HayatoDragonFX
2
NZDJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 50 - Dec 07 M > Market was moving in a downward channel, however it broke resistance to the upside last month. Price has tested monthly resistance. W > We can see W formations but their neck is in the channel that market will have to renter back by breaking its resistance, now as support. D > Market was making its fresh move in a rising channel but it broke out of that as well to have a false break out above monthly resistance but reversal can be seen with bearish engulfing candle. As per COT NZD further added few Long but closed Short bringing Long to the highest for the year and net positions to highest for the year, ZXY has gained strength since all of November and closed last week with rejection after testing June 2018 level as resistance. We can expect correction to the downside for NZD. JPY again saw addition of major Long and some Short positions improving net positions to highest in this year. JXY however weakened during the said period and was indecisive last week ending in a Doji. We can expect strengthening of JPY this week. With weak NZD and strong JPY drop of NZDJPY is a expected. 4H > Price dropped to create a LL and it is now making pull back for a LH, a drop will provide bearish confirmation with a nice Short entry. We will face few demand zones that may pause price on its way down. Pair Correlation > NZDJPY has positive correlation with NZDUSD, NZDCHF, AUDUSD, NZDCAD, GBPUSD and GBPJPY and negative correlation with GBPNZD and EURNZD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
NZDJPY Break and retest cycle will it reach 2020 high ?NZDJPY ********* ⏳Day chart 🎲 Detailed analysis ⛳️Bullish entry —————-❇️——————- 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 —————-❇️——————- 📉 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 —————-✳️——————- 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 —————-✳️——————- 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 —————-⚜️——————- Push the like button , And cheer up if you found useful
Long
by forexorbit
2
NZDJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 45 - Nov 02 M > Market is moving in a downward channel, price tested resistance of channel and dropping after rejection. Price has already dropped till 0.382 Fib level on monthly bullish impulse. W > Price tested resistance level thrice and faced rejection creating triple top. We can see a W formation and expect price to drop and test its neck. However for last 4 months price is moving in a range of about 300 pips. D > As suggested last week price dropped to test weekly support and we can now see rejection wicks at support level. Price has formed a bullish flag and we can expect a reversal to the upside. As per COT NZD saw addition of both Long and Short improving net positions to max for the year, whereas ZXY gained strength during the said week but it weakened last week. JPY saw closure of Long and major Short positions improving net positions however N-R added major Long and few Short positions, improving cumulative net positions. Commercials have added both Long and Short positions, bringing their Short positions to highest in current year, in effect increasing total open interest in JPY. JXY improved its position during the said week and further improved it last week. NZD has been gaining strength slowly and we can expect move to the upside. However JPY being a safe heaven can strengthen on account of short term uncertainty due to Covid19 resurgence and US Elections, making price to drop. 4H > Price is currently facing rejection at support level, as evident from rejection wicks and we can also see bullish divergence. We will wait for price to break last support to the upside to enter Long. Break of support to the downside will invalidate this idea. Pair Correlation > NZDJPY has positive correlation with AUDUSD, AUDJPY and NZDUSD and negative correlation with EURAUD. Thank You AP17FX
Long
by AP17FX
1
NZDJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 43 - 19 Oct M > Market is moving in a downward channel, price dropped from resistance of channel. W > Price tested resistance level thrice and faced rejection creating triple top. We can see a W formation and expect price to drop and test its neck. However after last rise price is moving in a range of about 300 pips. D > Price dropped till weekly demand zone again but faced rejection creating double bottom. Price moved up to test weekly supply zone and after rejection started dropping again. We will will set 3 bearish targets. 1. Weekly demand zone where price created double bottom last time. 2. Demand zone at odd candle (66.67) on D chart, above neck of W formation. 3. Neck of W formation. As per COT NZD saw addition of both Long and Short further increasing net positions, confirming further improved strength of ZXY for the said week. ZXY has been gaining strength slowly since June 2020. ZXY however weakened improved last week. JPY saw addition of few Long but more Short positions reducing net positions further. JXY lost its position for the said week but ended with a Doji. However JXY improved its position last week but again ended with a Doji. 4H > Price is now testing resistance level, we will wait for its reversal and turn into bearish. Pair Correlation > NZDJPY has positive correlation with NZDUSD, AUDJPY, NZDCHF, AUDCHF and CADJPY and negative correlation with USDCAD, EURNZD and EURAUD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
NZDJPY SWING TRADE SETUP 15-OCT-2020NZDJPY-Technical analysis The price was closed below the 70.000 key psychological level leaving a doji candle. And currently ZNDPY has retested the 70.000 level and its unable to break firmly We can sell this pair now and the swing target would be 68.900 and stop lose may placed above the 70.500 level SWING TRADE-NZDPY Entry point @ 69.900 Take profit @ 68.900 Stop lose @ 70.520 R:R 1:2 💌 Leave your valuable comments and suggestions related to this idea in the comment section. Thanks for your time. Good day guys 💝
Short
by forexorbit