NZDJPY - TECHNICAL ANALYSIS FORECASTnzdJPY based on a technical chart ON D1 it clearly indicates a triangular pattern that contains a length of 29 candles and forms a bearish continuation pattern.
The trading approach will be bearish for this currency after the breakout from the support levels.
Selling zone: 76.750 - 76.650
Stop loss: 77.100
Target: 75.500 - 74.700
Disclaimer: All the information provided is for educational purposes. Before taking a trade kindly consult with your investment advisor. We are only providing for the educational and confidence built-up for the forex market
Nzdjpysetup
NZDJPY Impulse - Correction SpottedNZDJPY potential buying opportunity, the weekly chart shows an impulse - correction pattern, after every impulse & correction next impulse is formed.
Things to consider:
1. Strong weekly impulse followed by short term correction
2. Correction wave retraced 0.382 Fibonacci level and rejected 2 times
3. Price is moving up from strong weekly support
4. COT data:- NZD - 1k ⬇️ JPY - 61k ⬇️ (overall price will go up since JPY is much weaker than NZD)
How to enter:
1. Study the chart provided
2. Locate all the important prices
3. Tommorow when market is open find best entry on 4hr timeframe
4. Stay tuned for sniper entry on Monday
ALL THE BEST!
NZDJPY buying againThe market came and retested the trendline again in 4hrs. So we went down to the lower timeframe for entry. After the breakout of previous resistance in 30 mins we took this trade with a very good 1:2 risk to reward.
we took this trade very earlier before and got stopped out. So we are in this trade again.