Buy OpportunityPotential Trade Setup:
Long Position: The updated analysis favors a long position based on the support bounce and potential momentum shift.
Entry: Enter the long trade at the current price level of 90.48.
Stop Loss: Place the stop loss below the support at 90.00 to allow for minor fluctuations while protecting against further downside.
Take Profit: Target the resistance level at 92.46, which aligns with the next major resistance zone.
Analysis Breakdown:
Current Price Action:
NZD/JPY is currently trading at 90.48, close to a recent low where it found support.
The price action indicates a potential reversal from the support level at 90.49, as seen by a bounce on the chart.
Volume Profile:
The volume profile highlights significant liquidity around 90.50, suggesting a strong area of interest where buyers have stepped in previously.
This area may act as a launching point for a potential bullish move.
Support and Resistance Levels:
Support: The critical support level is identified at 90.49, aligning with the current bounce zone.
Resistance: Overhead resistance levels are marked at 91.39, 92.05, and the final target at 92.46.
Take-Profit Level: The suggested take-profit is at 92.46, offering a potential upside of 2.16% from the current level.
Squeeze Momentum Indicator:
The Squeeze Momentum Indicator shows a transition with red bars decreasing, suggesting weakening bearish momentum.
A potential shift to green bars could indicate the start of a new bullish phase.
NZDJPY trade ideas
NZDJPY RIGHT NOW !!!NZDJPY reached the point of decision ;
according to previous data, it should reverse right now in a huge V pattern, and then correct to return back up then ;
however stay advised, nothing is never sure, but this seems like a great trade to get into right now ;
the SL would be placed just under the yellow trend line, around 90.600.
How NC Zones WorkHey,
Why not share some knowledge while we at it.
I've been trading these zones for many years now..
If you want to understand them, it starts like this;
Look for imbalances (new capital indicator find it for free)
Make sure the imbalance is engulfed.
Draw in a zone.. (Called the imbalance zone)
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Like taking out a trendline zone.. or taking out a trend.
Happy studying :)
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Max
Buy NZD/JPY Descending Triangle The NZD/JPY pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 91.65
Target Levels:
1st Resistance – 92.11
2nd Resistance – 92.34
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
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Thank you.
NZDJPY: Potential Triple Bottom Pattern Could Push Pair Up to 91NZDJPY: Potential Triple Bottom Pattern Could Push Pair Up to 91.85
On the 60-minute chart, NZDJPY has found strong support near 91.27. The price has tested this zone three times and reacted near the zone, increasing the chances for another bullish wave.
It looks like NZDJPY may soon confirm a triple bottom pattern. If that happens, NZDJPY may test the top again near 91.85.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
NZDJPY → 92.00 - bull run triggerOANDA:NZDJPY continues to accumulate pre-breakout potential against 92.000 resistance. Japan's national currency continues to weaken amid inaction from the country's Central Bank and the dollar rally...
On D1 and H1, the structure coincides and generally tells us that the price is ready to go up. Trigger 91.950 - 92.00. If buyers can break this resistance area and hold their defenses above this zone, a quick distribution will not be far behind.
JPY confirms its downward course by breaking support, which generally defines the medium-term potential for us.
Resistance levels: 92.00
Support levels: 91.362
The overall structure will be broken when the support at 91.36 is broken, but there are no hints of that yet. The currency pair does not fall after the false breakdown of resistance, but continues to inflate the potential, which generally confirms the bullish intentions to go higher.
Rate, share your opinion and questions, let's discuss what's going on with ★ OANDA:NZDJPY ;)
Regards R. Linda!
NZD/JPY BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
NZD/JPY pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 1D timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 90.022 area.
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NZDJPY Positioned for Bullish ContinuationHello,
OANDA:NZDJPY to maintain its bullish momentum, it needs to stay above the 1W/1D pivot point (PP). If it drops below, it may test the 1M PP, potentially leading to a further price decline. Proper price positioning is crucial at this stage. Overall, the trend is aligned for a bullish move.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
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NZDJPY Wave Analysis 8 November 2024
- NZDJPY reversed from resistance level 92.00
- Likely to fall to support level 90.40
NZDJPY currency pair recently reversed down from the resistance level 92.00, which is the upper boundary of the narrow sideways price range inside which the pair has been moving from September.
The resistance level 92.00 was strengthened by the upper daily Bollinger Band and by the nearby 61.8% Fibonacci correction of the downward impulse from July.
NZDJPY currency pair can be expected to fall to the next support level 90.40 (lower boundary of the aforementioned price range).
NZDJPY to breakdown?NZDJPY - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
Bearish divergence is expected to cap gains.
A lower correction is expected.
We look to Sell a break of 92.10.
We look to Sell a break of 92.10 (stop at 92.50)
Our profit targets will be 91.10 and 90.85
Resistance: 92.50 / 92.80 / 93.20
Support: 92.00 / 91.60 / 90.90
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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