Nzdjpyshort
NZD/JPY SHORT SELL OPPUTUNITY view......
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
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NZDJPY | Resistance Ahead
NZDJPY has been trading in bullish trendline making higher high and higher lows, following a parallel channel on shorter term. Similary it is trading in cup and handle pattern formation on longer term. But we have a resistance ahead at 79.300. We expect profit taking from that level.
NZDJPY, price at top of channel, look for a shortHi Traders,
Price action on NZDJPY is continuing to look bearish as price is moving within an Ascending channel approaching the top boundary. We have a double top and a LTF channel within the HTF reversal structure to give us confluence for a sell on this pair.
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NZDJPY acts like Bitcoin?As NZDJPY is declining from high of 82.52, the decline is similar so far to the analogue of Bitcoin which we saw a plunge from 68k high as well. Is NZDJPY only a wave behind BTC giving that both are associated risky assets?
If yes point 4 will suck the breakout traders into thinking of a break of trendline and dumps on them vigorously to point 5.