Nzdjpysetup
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.
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.