MAJOR REVERSAL THIS YEAR IN NZDJPY
Update: July 14 - Stop placement is completely wrong. Should either be at 93.10 or 85.55. Will adjust that..
New Zealand has reached a major (at least temporary) top against the Japanese Yen in January of 2015. I will keep a close eye on this one and start going short between now and 86.XX - 87.00. I believe my target will be reached (at least target 1) by mid July. Time is a critical component for this trade. If target 2 is reached after the 4th quarter of 2015, there is a high probability NZDJPY heads toward 68.XX.
Sometimes the eye is trained to see the critical levels clearer as price moves higher. Flipping NZDJPY to JPYNZD shows a clear initial target at the top of the channel. The price is 79.65
New Zealand has reached a major (at least temporary) top against the Japanese Yen in January of 2015. I will keep a close eye on this one and start going short between now and 86.XX - 87.00. I believe my target will be reached (at least target 1) by mid July. Time is a critical component for this trade. If target 2 is reached after the 4th quarter of 2015, there is a high probability NZDJPY heads toward 68.XX.
Sometimes the eye is trained to see the critical levels clearer as price moves higher. Flipping NZDJPY to JPYNZD shows a clear initial target at the top of the channel. The price is 79.65
Comment:
What a beautiful buy this has turned into
