💡 NZD/JPY 📉👋 Hello and welcome traders to another trade idea with Fobian
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👉 WE will waiting for SELL conformation:
- We have downtrend.
- MACD give us SELL signal.
- Candle close below ASIAN session.
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Keep in mind that the analysis provided is not 100% accurate and that you can never be certain with the markets. This information given is not financial advice, always do your own research.
Nzdjpyshort
NZDJPY - BEARISH BIASNZD - BEARISH
1️⃣ Risk-averse market environment at the start of the week provided a boost to the safe-haven USD and caused the Kiwi to fall sharply.
2️⃣ In the early Asian session on Wednesday, the RBNZ will announce its Interest Rate Decision and release the Rate Statement.
JPY - BULLISH
1️⃣ Trepidation about the global economic outlook as novel coronavirus infection rates continue to increase. Data from Johns Hopkins University on Sunday showed that cases have increased by at least 10% in 31 US states while European countries from Denmark to Greece announced new restrictions last to contain virus infections in some of their largest cities.
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TECHNICAL
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- We're keen to sell NZDJPY on SBR level on H1 chart.
- NZDJPY in bearish zone.
NZDJPY pre-market analysisIt's been a while since I've published anything, so here we go!
At the last week's close, price seemed to reverse upwards, so I need to find where it's going to end up.
I identified a downward trendline, and it crosses near the level that's associated with a prior consolidation period, so most would say that there's some sort of confluence going on here.
We now make a hypothetical trade, taking a recent high as SL, and the lower level of that side-ways move as TP.
And it has a lower than 1RR, which indicates that this trade is risky.
When a trade's risky, price will often move to its SL, right? Which leads us to the next step, which is moving our entry to match the previous SL
I hope that the market will drop after it has stopped out the people who took the 1st trade.
But I do have another setup in case that fails as well.
The rest of my thoughts are on the chart above for you guys to see.
Happy trading.
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.
NZD/JPY Great Sell OpportunityAs you can see in D1 Chart, NZDJPY did a fake breakout (I Posted about it before) It did not continue up. so now it should continue it's consolidation again and it's next move will be Sell. As you can see it has retested the resistance where the fake breakout occured. it will now most likely head towards the 69.500 Level Now.
Comment if you have an alternate idea.
Intra-Day Short Opportunity on Pullback-Ascending TL breakout, retest expected
-0.5 fib retracement
-Previous support now acting as resistance
-MA50 momentum shift
NZDJPY - BEARISH BIASNZD - BEARISH
1️⃣ Investors were cautious on news that AstraZeneca paused its late-stage trial of one of the leading COVID-19 vaccine candidates after an unexplained illness in a study participant.
2️⃣ Director General of Health Ashley Bloomfield reported six fresh cases of the novel coronavirus in New Zealand, all of which are linked to the Mt Roskill "mini-cluster."
3️⃣ Manufacturing sales in New Zealand plunged 12.1% year-on-year during the second quarter, posting the largest fall since the series began in 1994.
JPY - BULLISH
1️⃣ Traders sought the safety of haven assets following news that AstraZeneca paused its late-stage trial of one of the leading COVID-19 vaccine candidates after an unexplained illness in a study participant.
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TECHNICAL
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- We're shorting NZDJPY on SBR level + SMA100 area on H1 chart.
- NZDJPY still in bearish zone.
Short Opportunity on Trendline Retest-Respectable descending TL, looking for a retest
-0.618 fib retracement
-Previous area of S&R
-MA50 momentum shift
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
Short Position on NZDJPY 4HHello Traders!
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🚀Sell Execution according to the market.
NZDJPY, Correction??Triple Top
W pattern
Rejection Zone
Trendline Holding
Correction is highly needed for proper BULL RUN.
NZDJPY, A Clear Picture..Currently at strong W,D,4H Resistance Level..
Plus Triple top on Daily ..
Trendline is holding also.
If Respected then
70.55 is expected atleast for proper LONG..
NZDJPY simple price-action trade ideaEntry @70.952
SL @71.065
TP1 @70.25
TP2 @69.877
Oh, and did you know that it's literally 12 am in my place? I didn't stay up all night just looking at charts, I watched a couple of gaming live-streams here and there.
Since I am kinda exhausted right now, how 'bout I keep things a bit short. Analysis details are all there for you to see.
6R trade, never successfully made one before, and that's just the TP1. Let's see what happens!
Good night!
NZDJPY H4, wait for reversal pattern to form.The chart above illustrates what could potentially take place on NZDJPY over the next few days or weeks. To the left we see the most recent reversal pattern which formed at the Daily support and resistance zone. Wait for a similar pattern to form before entering a sell. Once price does not break above this zone and we get a reversal pattern I would confidently take a bearish trade using proper risk management.
NZDJPY D, multiple hits to support and resistance zone!Take a look to the left and you will see that price has made multiple hits to this Daily support and resistance zone. If price comes back to this zone, drop to a a lower time frame and monitor for a reversal pattern to form before entering a sell. However, if price decides to break through this support and resistance zone, this can indicate that price wants to continue its bullish momentum. Wait for a retest before entering a buy.
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.
