ZARJPY trade ideas
ZARJPY1hr: Divergence on 1hr
sells at 7.620, being the resistance supported by the turtle soup sells
LONG ZARJPYPotential Long Entry for ZARJPY
I cloned the support trend line to predict a potential new resistance trend line.
more likly this market will create a sell if we can hold sell for 1 month than more likely we can hit the target
ZAR JPY BUY (SOUTH AFRICAN RAND - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
ZAR/JPY is bearish at 4h chart!!!I see a bearish rising wedge and divergences on histogram for Zar/Jpy.
You can sell Zar/Jpy now or you can wait for an inclined support of rising wedge to be broken.
Profit Targets:
8,0
7,81
**If the support of wedge is broken, our ultimate profit target will be 7,1.
Rising wedge example:
i.investopedia.com
Stoploss:
8.4
Trade with less leverage(5x,10x) , this is a long term trade.
Have a nice day,
Berk
ZARJPY: Approaching the Resistance.The price action has been narrowed down from a Channel Up to a Rising Wedge on 1D (RSI = 63.891, MACD = 0.106, Highs/Lows = 0.0795). Technically every pull back up to 8.000 is a buy towards the 8.550 Resistance (ext. 8.876).
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ZAR/JPY 1H Chart: Rising wedge in sightThe ZAR/JPY currency pair breached a long-term descending channel north at the beginning of November. The South African Rand has been depreciating against the Japanese Yen since the end of August. This movement has been bounded in a rising wedge.
Currently the exchange rate is testing the resistance level formed by the Fibonacci 50.00% retracement at 8.23. Given that the pair is being supported by the 55-, 100– and 200-hour SMAs, it is expected that the pair target the upper wedge line located circa 8.46 in the nearest future.
If given wedge holds, it is likely that a reversal south occurs within the following trading sessions.
Looking for selling this correctionI expect one more bottom test before dropping or price will form a ABC.
Short on Head and shoulders as it finish last legThis is my first attempt to publish a trade using trading view. Any constructive comments are very welcome.
