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Nzdjpysetup

NZD/JPY Technical Analysis.Currently, NZD/JPY is trading at 68.53. The pair is consolidating in the resistance and support wedges. Previously, the pair was trading in a down trend and after touching the support level it started consolidating in the resistance and support levels. If the price breaks the resistance level at 69.54, then it may start a new up trend and its target price will be at 71.42. If the price breaks the support level at 68.13, then it may start a new down trend and its target price will be at 66.48. Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and ideas. Thank you, Rishikesh Lilawat
by rishililawat5
NZDJPY - Ascending Triangle Break-down Sell Opportunity| 1:2 R/R📢NZDJPY 4H - Technical Breakdown 📈Price levels have been respecting the ascending support over the last 3 weeks. The current market price appears to be losing momentum as it tests the overhead resistance at 65.950 for the third time. 📊A break to the down-side breaching the ascending support will present a good risk to reward sell opportunity entering when price levels breach the 50 EMA @ 65.100 for confirmation and looking to take profit around the 63.300 support region just passed the POC (Point of Control) for the visible trading range at 63.811.
Short
by SmithTradeSmart
2
NZDJPY touched Weekly Resistance: Potential SELL set-upHello Traders, I would like to present a potential SELL set-up in NZDJPY through this analysis. As you can see, NZDJPY has touched the Weekly Resistance in the chart. Currently, the price looks overextended and too many positives(US China trade deal,etc) have already been priced in. So, any kind of risk-off situation can lead to a sharp reversal in price. Hence, based on BEARISH PRICE ACTION in lower time frames, traders can look for SELL between 73.30-73.80 with SL above 74.15. TPs can be set at 72, 71.30 and 70.15 respectively.
Short
by TraderAvDM
1