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Nzdjpysetup

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, 4hr tf, buy on support retest Hello my friends, Another setup for starting November is NZDJPY pairs. Don't forget to check my NZDJCHF post as well If you find my post useful, please give me thumb up and follow me for next update regarding all my positions. After marking my horizontal support and resistance, we continue to mark potential pattern. If we look at the bigger time frame, NZDJPY looks like it is moving inside a sideways channel and we are now exactly on support. The support i pay a close attention to is 69.00 as this is an area of confluences. A lot of support meet here so buyers might want to try defending this area. I am going to try buying NZDJPY at 69.00 as that is the exact point where so many support meets. Buy NZDJPY 69.00 Stop loss 68.55 Take profit 1 at 69.90 (2R) Take profit 2 at 71.30 (5.2R) Use only 1-2% risk Good luck
Long
by HayatoDragonFX
2
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
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 Give us a like if you found useful. And tell your opinion in the comment section
Long
by forexorbit
2
NZD/JPY Technical Analysis.Currently, NZD/JPY is trading at 69.68. The pair is consolidating in the resistance and support wedges. Previously, the pair was trading in a down trend and after touching support level it started consolidating in the resistance and support levels. If the price breaks the resistance level at 70.03, then it may start a new up trend and its target price will be at 71.56. If the price breaks the support level at 68.15, then it may start a new down trend and its target price will be at 66.46. 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