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New Zealand Dollar / Japanese Yen

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NZDJPY trade ideas

NZDJPY SELL FX:NZDJPY The NZDJPY currency pair has continued to show strength as it tests the highs on the monthly time frame. The momentum appears to be in favor of the buyers on the long-term chart. However, on the 4-hour chart, there is a possibility of a pullback to the 78.6 level to retest an inverse head and shoulders pattern. This pattern suggests that the price could potentially continue its upward movement after the pullback if price rejects at the 78.6. Alternative Scenario: At the moment, the .50 Fibonacci retracement level is a crucial support level in the market. If the price manages to stay above this level, it is likely that we may see a potential retest of the previous highs or even a breakthrough beyond them. This level is critical for traders and investors to keep a close eye on as it could determine the future direction of the market.
Short
by TKProphet
NZDJPY: Favorable Buy Despite Near-Term LowsHello Everyone, The NZDJPY has recently hit its 1-month low at 90.364 and its 3-month low is at 88.636. Although it's currently at the day's low, there's a potential for it to approach the 1-month low again. Despite the current conditions, NZDJPY remains a favorable buy. This sentiment is supported by the 1-day to 1-year trend analysis. Notable resistance levels to monitor include 91.152, 92.168, and 95.215. TradeWithTheTrend3344
Long
by TradeWithTheTrend3344