NzdJpy to break support?Since February, NzdJpy has had 6 attempts to stay above 79 figure and failed every time.
Now the pair broke under trendline support and is trading just in horizontal support level around 78
A break here would give bears the upper hand and would expose 76 support.
NzdJpy back above 79 would negate this bearish scenario
Nzdjpysignal
NZD/JPY SELL SIGNALHey tradomaniacs,
welcome to another trade-setup!
NZD/JPY: Day-Swingtrade-Execution
Market-Sell-Order: 78.430
Stop-Loss: 78.960
Point of Risk-Reduction: 77.950
Take-Profit: 76.730
Stop-Loss: 55 pips
Risk: 0,5% -1%
Risk-Reward: 3,10
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me
NZD/JPY +160 Pips Profit And New Entry Available This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
NZDJPY LONGThe Price didn't made a lower low violation of market structure. Price currently sitting support level or neckline for a double bottom . Base on the daily & weekly candle the next candle must open to the upside. The Stop loss is protected by previous low and trend line also S/R level . Price broke the trend or trendline signaling for a reversal . Market structure shows a double bottom pattern signaling to the upside. Multiple confluence for a signal going to the a upside
Start the uptrend
Description
As you can see, it is between support and resistance and has formed an ascending channel to touch the resistance and is currently at the bottom of the ascending channel.
If we take a closer look, it has broken a bearish wedge, which is also a sign of rising prices, and is expected to touch its resistance in the next few days.
In an ascending channel
Description
As you can see, it is in an ascending channel and by hitting the bottom of the canal, it provides the possibility of re-ascending to the ceiling of the Channel. Can be seen
We have to wait to see if we will climb after hitting the bottom of the channel Or losing the trend line.