NZDJPY Corrective SELL We spot a divergence at the last high of NZDJPY which gives us an opportunity to short the pair for the main time combined with our Elliot wave count.
Nzdjpyidea
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.
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AP17FX
NzdJpy to resume its long term downtrendNzdJpy is in a clear downtrend for 7 years now, with the pair dropping from 93 high to 60 low in spring.
After a normal correction/medium-term uptrend and a high around 72, the pair is in consolidation/distribution from the beginning of June.
Clear support is marked by 69 figure and a drop under this support would signal resumption of long term downtrend and a high probability short trade with a target of 66
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
What Do u Think On NZD/JPY ??The Price Has Reached Our Weekly Resistance, So We Expect It To Have A Strong Sell. You can catch an entry after the second RETEST On Daily Time Frame.
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 💝
NZD/JPY Preparing to bounce, keep an eye on this pair 👀This pair is testing support, could it be ready for its next move. Let's wait and see.
NZDJPY Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 42 - 12 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 > After last rise to test monthly resistance level price created LH and LL but with last daily candle price has broken last LH. It is now approaching daily resistance and we can expect a reversal.
As per COT NZD had closure of few Long and major Short increasing net positions, confirming strength of ZXY for the said week. Short positions have reduced to least in current year. ZXY has been gaining strength slowly since June 2020. ZXY improved its position last week. JPY had closure of Long and addition of Short reducing net positions, however Commercials added both Long and Short positions, increasing open interest. This made JXY slightly recover its position for the said week. However JXY was indecisive last week ending with Gravestone Doji.
We cannot expect long term bearish move unless JPY gains strength and ZXY weakens.
4H > We will observe price action at current level for reversal, however market can continue moving upwards to test monthly resistance again.
Pair Correlation > NZDJPY has positive correlation with NZDUSD, AUDJPY, NZDCHF, AUDCHF and AUDUSD 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
NZDJPY Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 41 - 06 Oct
M > Market is moving in a downward channel, price dropped from resistance of channel.
W > Price tested resistance level thrice and faced rejection to create triple top. We can see a W formation and can set its neck as a target.
D > Price has not been able to break daily support level for the second time, we have a triple bottom. Price has now retraced to previous support, now turned resistance and expect it to make another attempt to the downside.
As per COT NZD saw addition of few Long and more Short reducing net positions, confirming weakness of NZD for the said week. ZXY improved its position last week. JPY had closure of both Long and Short reducing net positions, this made JXY weak for the said week. Whereas JXY slightly recovered its position last week.
4H > Price is currently making HH and HL and is now testing daily resistance. We need to monitor price action for reversal.
Pair Correlation > NZDJPY has positive correlation with NZDUSD, AUDUSD, AUDCHF and AUDJPY and negative correlation with 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 you can share your view and ask questions.
Thank You
AP17FX
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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NZDJPY📉Price is currently testing a long term downtrend resistance. The price action brokeout below the pullback trendline support and it's currently consolidating( ranging) in a rectangular pattern. A break below the range support could lead to further dip.
NZD/JPY Technical Analysis.Currently, NZD/JPY is trading at 69.60. The pair is trading in a resistance and support channel from some time and now moving towards the support level at 69.00. It may rebound back after touching support level to again move towards resistance level at 72.00. Until it breaks resistance or support level, it will hover in this channel. So, do have this pair in your watch list and wait for the right price to enter.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Rishikesh Lilawat
NZD/JPY Technical Analysis
The zone of 71.100-200 proves to be a tough nut for the pair.
Despite multiple attempts, the price is unable to break above it.
Further, the price action has formed an evening action star pattern at the resistance zone.
Hence, we expect the pair to be bearish in the near-term.
NZDJPY, 4hr tf, buy above the kumo as long legged doji appearsHello my friends,
Today another setup on JPY pairs. This time it is NZDJPY.
I found a good buy setup for this pair as there are some confirmations appeared which consist of:
1. Parabolic SAR now below the price indicating buying pressure
2. Price above the kumo cloud
3. Kumo cloud is green colored
4. Long legged doji which is a price action confirmation
Buy NZDJPY 71.15
Stop loss 70.80
Take profit 1 @71.50
Take profit 2 @71.85
Take profit 3 @72.20
RR ratio is 1 : 3
Use only 1-2% risk
Good luck
Disclaimer : I bought NZDJPY at 71.15 as per this writing
NzdJpy- False break can lead to a steep dropLast week NzdJpy traded for just one day above 71.50 resistance. The break proved to be a false one and a strong bearish engulfing followed.
Usually, false breaks announce strong reversals and I expect the pair to drop to recent rage support at 69 zone.
Sell trades around 71.50 have a great R:R
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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Short Position on NZDJPY 4HHello Traders!
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🚀Sell Execution according to the market.
NZDJPY short for 100 pipsHi traders,
As you can see this pair has reversed somewhat and currently trading below 50 EMA. We have seen a pullback with a bearish candle which suggest we might see another push down to make a double bottom at least if not more. I have therefore gone short on this and marked tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
