NZDJPY
💡 Don't miss the great sell opportunity in NZDJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (74.3). 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 downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 73.50
TP2= @ 72.80
TP3= @ 72.10
TP4= @ 71.30
TP5= @ 70.50
SL: Break Above R2
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💡 Don't miss the great buy opportunity in NZDJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (74.23). 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 uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 67.
Take Profits:
TP1= @ 74.47
TP2= @ 74.85
TP3= @ 75.25
TP4= @ 75.70
TP5= @ 76.20
SL= Break below S2
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NZDJPY Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 44 - 26 Oct
M > Market is moving in a downward channel, price tested resistance of channel and dropping after rejection. Price has already dropped till 0.382 Fib level on monthly bullish impulse.
W > Price tested resistance level thrice and faced rejection creating triple top. We can see a W formation and expect price to drop and test its neck. However for last 4 months price is moving in a range of about 300 pips.
D > Price dropped till weekly demand zone again and faced rejection creating double bottom. Price moved up to test weekly supply zone and after rejection started dropping again. We will continue with 3 bearish targets identified last week.
1. Weekly demand zone where price created double bottom last time.
2. Demand zone at odd candle (66.67) on D chart, above neck of W formation.
3. Neck of W formation. Drop till this level will create an inverted H & S pattern.
As per COT NZD saw closure of both Long and Short positions further improving net positions, whereas ZXY was weak during the said week but it gained strength last week. JPY saw closure of Long and addition of major Short positions reducing net positions further however N-R added few Long and closed major Short positions. JXY during the said week ended in a Doji but improved its position last week.
NZD has been gaining strength slowly since June 2020 which is not in line with our target. However JPY being a safe heaven can strengthen on account of short term uncertainty till outcome of US election. We will hence identify invalidation level for bearish target.
4H > Price is currently back again to test weekly supply zone. A break to the downside will confirm bearish move but a break to the upside till daily resistance will invalidate our target.
Pair Correlation > NZDJPY has positive correlation with NZDUSD, AUDUSD and AUDJPY and negative correlation with EURAUD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
Don't miss the great sell opportunity in NZDJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested resistance line (69.55). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 36.
Take Profits:
TP1= @ 69.00
TP2= @ 68.69
TP3= @ 68.12
TP4= @ 67.36
TP5= @ 66.78
SL= Break above R2
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NZDJPY 4HR LONG PROJECTIONHello Trades,As per my previous analysis on NJ , Price has failed to push further downwards, there was bullish engulfing at current support level.Hence this would be a good buy opportunity once PRICE GETS RETEST AT CURRENT SUPPORT LEVEL.RISK REWARD RATIO 1:4.5 .Ensure that you use proper risk management with given StopLoss .Please feel free to Message me for your account growth and profitable trades. Account management is offered .Thank you.
Don't miss the great sell opportunity in NZDJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (70.7). 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 downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 33.
Take Profits:
TP1= @ 69.90
TP2= @ 69.15
TP3= @ 68.20
TP4= @ 67.10
TP5= @ 66.05
SL: Break Above R2
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ForecastCity English Support Team ❤️
Don't miss the great buy opportunity in NZDJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (68.777). 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 uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 64.
Take Profits:
TP1= @ 70.520
TP2= @ 71.104
TP3= @ 71.590
TP4= @ 72.650
TP5= @ 73.490
SL= Break below S3
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ForecastCity English Support Team ❤️
Don't miss the great buy opportunity in NZDJPY Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (68.61). 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 uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 58.
Take Profits:
TP1= @ 69.57
TP2= @ 69.76
TP3= @ 70.43
TP4= @ 71.13
TP5= @ 71.65
SL= Break below S2
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ForecastCity English Support Team ❤️
SELL NZDJPY!!!So, what kind of situation we have in NZDJPY pair. If we see the trend lines, it's saying that it's a good time to short this pair as this region holds strong resistance.
Also, in the 4 hr chart, we got conformation to sell this pair. So, if we take a short here then we will be taking profit at 65.300 approx. with a stop loss of 66.200. It's a good risk to reward ratio.
Prices must follow the south direction.
So, we are going to enter this trade now. Let's see what happens!!!!
Stay updated :)
Don't miss the great buy opportunity in NZDJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (64.1). 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 uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 47.
Take Profits:
TP1= @ 65.05
TP2= @ 66.00
TP3= @ 66.73
SL= Break below S2
NZDJPY WHERE ITS HEADED!!On Friday NZDJPY rallied near to 65.00. So what's next?
According to the trend channel, it must bounce back to 64.00 levels approx. BUT this time it may be breaking this trend and in that case, we will be seeing 66.500 levels approx. and on the downwards direction there is support holding still at 65.00. So, a rebound might be seen from there.
What should be the plan??
If we are long on this pair, nook profit here or at least save some by moving stop-loss above. If planning a short then don't take it now, wait till it gets confirmation below 65.00. Otherwise, be neutral as it has high chances to rebound from 65.00 levels if not, then it may rebound again from 63.700 which proved to be a strong support region.
Now, if you liked this analysis then leave a like and follow me. :)
NZDJPY GREAT OPPORTUNITYNZD JPY is currently around support in the daily chart and also, according to the pattern formation. It must bounce back from here to 65.00 and above levels.
So, it may be a great opportunity for those who are looking to enter a long position with a stop loss at 62.900 and the first target to 65.00 because there is a resistance at 65.00. If it breaks it then we can see 65.500 to 66.00 levels.
So, in my opinion, if we take a long here, it is a great opportunity with less risk and high rewards.
Don't miss the great sell opportunity in NZDJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (65.1). 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 downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
Take Profits:
TP1= @ 64.28
TP2= @ 63.73
TP3= @ 63.10
SL: Break Above R2