Nzdjpyshort
NZDJPY - 400+ pips swing {SHORT}Looking at weekly chart of the NZDJPY we can see a 78.6% retracement off the drop that started 16 Dec 2019, and we can clearly see a double top formation with the first top formed 8 June 2020 and the second top formed July 2020. On the same weekly chart, drawing our fibs from the impulse move of 15 May 2020 to the 2 tops we can see price is currently slightly above the 23.6%. We want to see a drop in the coming days and weeks down to the 61.8 where the previous broken structure awaiting a retest is found. Our stops are a 100 pips just above the high of both tops for a take profit target of 400pip+
NZDJPY - Next MoveWe won't consider a trade on this pair until a set-up forms, I have illustrated what type of price action we may see in the near future. The COT data suggest the key support level could get broken but we dont know that for sure so the long set-up has been incuded also.
NZD/JPY SHORTFor Nzd/Jpy we saw from the monthly analysis that it definitely has to go down to the retest, we will be sure that it goes down only when it breaks the structure to daily.
UPDATE ON NZDJPY SHORT TRADEHello traders, this is the update on the NZDJPY trade that I forecast on Jul 6. Check the forecast below. Let me know if you guys have any questions. If you like my analysis please hit like and follow. Thanks.
NZDJPY SELL SETUPBreak of TL on daily.
Waiting for a bit of a deeper retracement.
Potential swing trade for ~ 400 pips if we get that move down.
NZDJPY short if price breaks the zone If Price breaks the 4 HR zone, and getting a nice convincing retest, it will go down nice.
NZDJPY H4 SHORT PRICE ACTION FORECAST Price has been trading with a descending channel (hornet) quickly spotted from the D1 domain. It was able to break the resistance line from the structure only to form a clear double top pattern, confirming a downtrend movement.
Currently finding strong support as expected on the 200MA acting at the last line of defense before the massive downward momentum. If the price manages to break through the current level, a short entry will be waiting for it, with an extensive R:R ratio if price respects the more significant structure.
The order:
Type: sell-limit
S/L: 66 pips - R:R | 1:5 -
T/P: aiming towards the next support level
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NZDJPY - BEARISH BIAS#NZD - Bearish Mode
Recap:
1️⃣ U.S.-China tensions were once again a focus after China ordered the closure of a U.S. consulate in Chengdu and US Secretary of State Mike Pompeo urged China’s citizens to help ‘change the behaviour’ of their government.
2️⃣ Negative performance was driven mainly by global risk sentiment moves.
Review:
1️⃣ It’s another quiet week ahead on the economic calendar. Away from the numbers, private sector PMIs from China, COVID-19, and geopolitics will remain in focus.
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#JPY - Bullish Mode
Recap:
1️⃣ A weakening U.S Dollar stemming from the progress towards a COVID-19 vaccine supported the Yen. Also, this currency had been supported by risk aversion sentiment due to US-China tensions.
Review:
1️⃣ Progress towards a COVID-19 vaccine would pin back any upside in the Yen. Support could come from the U.S administration, however.
NzdJpy outlookNzdJpy failed in its new attempt to conquer 71.50. The ascending trend line is broken now and we can consider a clear top in place.
Now the pair is trading in a tight range and a break under psychological support at 70 could accelerate loses towards 68 zone support
NZDJPY H1 SHORT PRICE ACTION FORECAST Price action has been compressing, forming a triangle pattern. And from the D1 domain price has respected the descending trendline, finding rejection from that level. Technically speaking, the pair looks under bearish momentum after the consolidation with the formed pattern.
Short entry at the 4th touch is placed with the following characteristics.
The order:
Type: sell-limit
S/L: 24 pips - R:R | 1:2.6 -
T/P: next support from previous consolidation level
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NZDJPY NEW ANALYSIS!Hi Traders, here is the full Video Analysis / Breakdown for NZDJPY.
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Conditions -
1.Wait for confirmation(Wait For Price Action Confirmation / Market Environment Change )
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NZDJPY, Breakout Retest Scenario..I've already shared detail analysis previously
Here's lower TF
Simply breakout and retest scenario plus Double top rejected as well..
NZDJPY, BIG Picture..JPY rallied once again after haunted..
NZDJPY couldn't break previous Resistance and Trendlined.
I'm expecting further declining in NZDJPY till 68.5 atleast..
NZD/JPY rejected from resistance zone💡Hello traders,
Hope you all have a fantastic day !
I would appreciate any likes and follows from this idea, that would encourage me to publish more ideas and analysis.
NZD/JPY will move lower as price has been rejected from resistance line, we expect price to go lower next week.
Let us know what you think about this idea.
Trade safe !
NZD/JPY : Sell on Pullback ConfirmationLooking For Downside Movement after Pullback confirmation.
ThankYoU
NZDJPY: possible retracement to enter a long position. Pair has signs of short term reversal. If price breaks the current minor support we can see more downside towards the support zone of the horizontal support & lower ascending trend line.
Price could potentially face more downwards pressure so it is important to wait for clear reversal pattern before going long.
Short opportunity when both the support zone is broken and gets a retest.
