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ForecastCity
Aug 7, 2022 2:51 PM

πŸ’‘Don't miss the great sell opportunity in NZDJPYΒ Short

New Zealand Dollar/Japanese YenFXCM

Description

β‹…
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (84.44).
if so, traders can set orders based on Price Action and expect to reach short-term targets."

Technical analysis:
. NZDJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 56.

Take Profits:
TP1= @ 83.14
TP2= @ 82.10
TP3= @ 81.34
TP4= @ 80.55
TP5= @ 79.46

SL: Break Above R2

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Comments
carefulOwl22772
β‹…
Clear, and detailed analysis. πŸ‘ Thanks!
ForecastCity
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@carefulOwl22772, You're welcome! Thank you as well for your comment.
JoeChampion
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Good chart, i agree on JPY strength against commodities!
ForecastCity
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@JoeChampion, Thank you. We appreciate your support.
EriFX1
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we still sell bias for nzdjpy
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