NZDJPY: Bullish Continuation is Highly Probable! Here is Why:
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the NZDJPY pair price action which suggests a high likelihood of a coming move up.
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NZDJPY trade ideas
NZD/JPY BULLS ARE GAINING STRENGTH|LONG
Hello,Friends!
Previous week’s red candle means that for us the NZD/JPY pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 91.697.
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NZDJPYNZDJPY Price : 91.49
Trend : UP ( Due to the Upward channel on Daily chart )
Transaction: Buy
Reason : Upward channel on Daily & H4 time frame and the price has reached to support level on ( H4 ) in additional to oversold signal from Stochastic on ( H1 ) time frame .
Technical analysis failure at level : 91.00
Technical analysis success at level : 93.00
Clean price action on NZDJPYDear Traders,
As the New York session begins, we're seeing increased volatility in the market. I've observed a significant price action on NZDJPY, with the price breaking strongly above the previous resistance level, establishing a new range. I am now considering a long position, aiming to capitalize on the upward momentum and target the previous high.
Remember, simplicity and proper risk management are key in trading.
Best regards,
Tradebudz
NZDJPY D1 BUYHey traders, this is Rogue_Trader007. I have spotted NZDJPY as a good buy because it has a strong support level at 0.786 Fib level, which is also a hidden Divergence when combined with 14 period RSI. This makes a great entry as it usually shoot towards the 1.272 Fib level.
Making this a strong BUY.
Enjoy watching this idea and remember that patience is key in FOREX.