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New Zealand Dollar / Japanese Yen

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NZDJPY trade ideas

NZD/JPY intradayOur pivot point is at 70.77. Our preference: the upside prevails as long as 70.77 is supported. Alternative scenario: the downside breakout of 70.77 would call for 70.49 and 70.33. Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 70.83 and 70.54).
Long
by FEDTMBILLIONAIRESCLUB
Don't miss the great buy opportunity in NZDJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (70.60). 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 60. Take Profits: TP1= @ 71.60 TP2= @ 72.30 TP3= @ 73.35 SL= Break below S2
Long
by ForecastCity_EU
1
Don't miss the great sell opportunity in NZDJPYTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (72.65). 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 32. Take Profits: TP1= @ 71.75 TP2= @ 71.47 TP3= @ 70.00 SL: Break Above R2
Short
by ForecastCity_EU
Don't miss the great buy opportunity in NZDJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (68.15). 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 76. Take Profits: TP1= @ 68.87 TP2= @ 69.67 TP3= @ 70.24 SL= Break below S2
Long
by ForecastCity_EU
2
Don't miss the great buy opportunity in NZDJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (67.950). 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 55. Take Profits: TP1= @ 68.37 TP2= @ 69.68 TP3= @ 70.30 SL= Break below S2
Long
by ForecastCity_EU
Don't miss the great buy opportunity in NZDJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (71.500). 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 74. Take Profits: TP1= @ 72.10 TP2= @ 73.60 TP3= @ 74.80 SL= @ 71.00
Long
by ForecastCity_EU
2