Nzdjpysignal
NZD/JPY BUY SIGNAL Hey tradomaniacs,
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NZD/JPY: Daytrade-Execution
Buy-Stop: 73,090
Stop-Loss: 72,880
Target 1: 73,300
Target 2: 73,450
Target 3: 73,600
Stop-Loss: 21 pips
Risk: 0,5%
Risk-Reward: 2,50
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Irasor
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NZDJPY Break and retest cycle will it reach 2020 high ?NZDJPY
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⏳Day chart
🎲 Detailed analysis
⛳️Bullish entry
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Detailed analysis 💬
1️⃣ Notable break and retest happens twice
2️⃣ 71.630 Multi month highs strong support
3️⃣ Positive risk sentiment, Vaccine news
4️⃣ 72.00 Dynamic support and resistance
5️⃣73.600 acted as strong resistance-Key trend reversal area
6️⃣ 70.110 50% Fibonacci will Acted as strong support/Point of control coincidence
7️⃣ Technical support - Bullish
8️⃣ 73.600 will acted as key reversal-bearish
9️⃣ 2020 High will act as alternative bearish entry-Double top formation
🔟 Possible swing target-73.600
#️⃣ Overall long-term trend- Bullish
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📉 Technical bias-Day-Bullish
Price is above 50,100,200 Exponential moving average
50,100 Exponential moving average will act as support-Bullish
Relative strength index - well above 60 - Bullish trend
MACD -Histogram is slowly fading towards red, Oscillators about to cross soon
Stochastic - Reached around 75- overbought condition will give a short term fall back expected
Ichimoku cloud -cloud is still green-Price is well above the cloud
Bollinger band- Price reached around the upper side of the band-Short term bearish correction towards middle band was expected
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Key reversal area's
70.000 psychological level
70.110Point of control area Volume analysis
71.670 June,July,August month highs
69.000 Lower side of the recent consolidation phase
73.000 Major psychological level
73.660 Possible entry- Bear
73.660 Trendline resistance/Alternative Bearish entry
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Bearish entry #yen #kiwi #nzdjpy
Entry price - 72.150
Take profit 01 - 72.800
Take profit 02 - 73.600
🚫 Stop lose 71.200
⬆️ 2.00 Growth expected
⤴️ Account growth 1: 2
✅ Risk reward ratio 1 : 2
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NZDJPY - False level retestThe price is returned for retest level - the previous touch of the level more than 1 month ago. moreover, a strict namber of false breakdowns.
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NZDJPY Sell TRADE IDEA. Please manage your risk. Use Stop loss. And do not take blind entries.
If you have a question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
The Market can go in the opposite direction, what we analyze. So we have to manage our risk and adopt the situation accordingly.
NzdJpy to resume its long term downtrendNzdJpy is in a clear downtrend for 7 years now, with the pair dropping from 93 high to 60 low in spring.
After a normal correction/medium-term uptrend and a high around 72, the pair is in consolidation/distribution from the beginning of June.
Clear support is marked by 69 figure and a drop under this support would signal resumption of long term downtrend and a high probability short trade with a target of 66