nzdjpy looking to go short the corona virus is affecting the market heavily so please use proper risk management
Nzdjpyshort
NZDJPY - SHORTA nice pull back towards the 61.8 fib is what is needed in order to look for a SHORT position.
NZDJPYRecently the candles have been playing on our support from September 2019, it will probably go back there for a breakout, or else go back up.
NZDJPY SELLI only trade AUD AND NZD related pairs. I closely monitor CHINEESE STOCK MARKET, NEWZEALAND AND AUSTRALIAN ECONOMY to do my analysis.
After years of fx trading, I've found, it's best to trade with 1 or 2 currency pairs. Narrow focus brings the best result in the forex market.
I try to post and update my trade ideas every week. Follow me, if you like my analysis.
I use both fundamental and technical analysis to generate trade ideas. I don't feel comfortable to place orders based on just some random indicators. I look for strong fundamental reasons and these indicators help me to achieve a great risk to reward ratio.
May we all gain some Pips. Happy trading...
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NZDJPY bearish outlook!Hey guys, on NZDJPY i am expecting bearish pressure to continue directing the market.
-Weekly descending trendline has been respected
-Lower high formed on Daily chart
-Now in bearish sequence on 4h chart
FOR THIS TRADE TO BE VALID WE MUST SEE A DAILY BREAK OF TRENDLINE, FOLLOWED BY A NEW LOW, AND THEN WAIT FOR PRICE TO CORRECT & REJECT A FIB LEVEL TO ADD CONFLUENCE TO THE TRADE. Currently this is just an overall analysis and forecast rather than a trade idea.
NZDJPY. How long will the price fall?Hi subscribers!
The New Zealand dollar is plummeting.
A few days ago, the price was at a key level (70,000).
Immediately after that,
the price fell even more and will continue to do so to the support level.
Target at (66.855).
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This idea does not provide the financial advice.
NZDJPY: A comprehensive Analysis. Will it reverse soon?NZDJPY has been showing a lot of strength of late. After breaking through the all-important support of 72 during last July and plummeting to 66, NZDJPY has recovered all its losses. For the last 3 months, NZDJPY has been rallying consistently.
This has happened due to better risk appetite in the markets.
Looking at the sentiment, I can assume that a lot of retail traders are short on this pair. In fact, retailers have been selling this all throughout December.
So, is there any hope for the sellers?
Technically, NZDJPY has reached the 100 week EMA which can dampen the rally.
Secondly, it has also reached a descending Trendline Resistance, which has stopped the price on previous occasions.
And, most importantly, price is now at the Broken Support zone which can obviously work as a strong resistance now.
So, technically, there is a good chance for the sellers.
However, the market doesn't work as per colorful lines and patterns on our chart.
It works when the institution step in.
Based on price action, I can definitely say that the rally is overextended at this point.
We have also seen the presence of institutional sellers in the 72 area.
So, if I see price struggling here or a strong downward impulse, I will sell this market. Some kind of triggers such as bad economic data or risk-off events can push the price downward.
NZDJPY Trade IdeaPredicting a good sell opportunity on nzdjpy. The market is trading higher, towards an important supp/res level. The market is likely to retest this level, and make a bearish move.
NZDJPY SELL NJ here. This pair has failed to break this resistance level for over two weeks now, with a correction over the past few days due to the corona virus manipulation it has come up too a level of interest. Upon a daily candle closure forming as a shooting star, doji or spinning top, I will be looking to take short trade from the purple box region. Taking partial profits on the way down.
340 PIPS GAIN 6.5/1 RR
NZDJPY W4 FEB 2020• Swing Short Setup
• Continuation bearish chart pattern
• Consolidating between 38.2% and 50.0% Fib Retracement
NZDJPY DROPTrendline break followed by this current continuation pattern forming. Expecting a small push higher to the top end of the pattern in correlation with touching our 200dayMA followed by a hard drop.
