Nzdjpysignal
NZDJPY BREAKOUTLook at the above chart and as you can see that it has given the BREAKOUT of the upper TRENDLINE. There is great probability that from here it will go upwards after consolidating 3-4 days near the TRENDLINE area.
KEYPOINTS
ENTRY- 77.700-78.000
STOPLOSS- 76.452
1st TARGET- 79.262
2nd TARGET- 80.955
NZD/JPY 4HR BUY SET UPHi TRADERS this is my trade set up for the NZD/JPY
NZD/JPY Looking like could pull back into the order block zone for further continuation up, so buy only
This is my analysis only please trade with caution and risk management in place
clean crisp charts I hope it helps if you have any questions please private message me
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Trading Idea Regarding NZDJPYThis pair is going bearish for the rest of the week
1-If we look weekly time frame its clear that this pair ended its corrective move so we expect another impulse move to the downside( i will post weekly chart in comment kindly check it out if you want)
2-Descending Triangle Chart Pattern
NZDJPYTwo possibilities:
1: We could see price come into the green zone and react downwards from there since we have a break of structure and rejection signs.
2: The liquidity sat above the highs could be taken and then we could see price start to distribute, once we see a clear rejection and break of structure pattern forming we can take a sell entry from there.
NzdJpy can fall from resistanceSince October's high, NzdJpy has started a downtrend, at least in the medium term and after finding support in the 76 zone, the pair rebounded and has started to trade in a range.
Now we are in the resistance zone of this range, and a fall could follow.
A rise above 78.70 would negate this scenario and bears can have as target 75 zone
Also, a drop under 76 would confirm an H&S, and the long term target for this pattern is 70