Resistance holds, so far, in NZD/JPY
Technically Speaking
Resistance at the 75 level held again. A pretty clear range is being mapped out. 72.50-75.
Strategy
Buying under 72.50 and selling at 75 seems to be a sensible strategy, until one side or the other breaks.
Resistance at the 75 level held again. A pretty clear range is being mapped out. 72.50-75.
Strategy
Buying under 72.50 and selling at 75 seems to be a sensible strategy, until one side or the other breaks.
Trade active:
I am short this cross. Targeting the 73 level initially, stop is at 75.36
Trade closed manually:
Closed the short position for a small gain. The failure to break the 100 DMA on the downside was a red flag. Other yen crosses are starting to break to new highs. I felt the R/R for holding the short was not there.
