Market is testing trendline 3 times and a good inverted hammer like candle is formed at trendline. Use proper risk management and enter wisely
!Happy trading
The chart shows a channel pattern since 2020 and now the pattern shows a multiple rejection at the top resistance zone . And now small correction in the price . And now the inside of the pattern shows a falling of price and it touches a near the Minor resistance zone .
wait for the breakout If it breaks the minor resistance it will go up to the major Resistance...
From monthly perspective it seems long term bearish, but the pair is still not got ready to move in that direction, personally I am expecting a short term bullishness on NZD JPY before longer term bearishness.
Hello Traders,
Hope you all are doing good!!
I expect NJPY to go Up.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do...
Controlling over the news, JPY index was too low from Dec 19th. It looks like upside with index, over all JPY pair its gonna come up. So on the board NZD will be the first to see the decline matching with AUDJPY. Japanese index get stronger with USD and news data is my prediction.
Trade Idea @ Why SHORT?
1. Price has Crossed an IMP Zone (Resistance > Support > Resistance). Currently, it has been retesting IMP Zone.
2. Against previous High IMP Zone is between FIB (61% & 78% Level).
3. MACD Line has crossed 0 Level, Confirming price to further fall.
*** Trade at your own risk ***
NZDJPY is looking for pull back and then continue its bearish push further . I am convinced it will go further down due to the close it gave multiple times in 4H below its major previous support .
My analysis can even go wrong but i don't worry or panic because we have a stop loss of 1 % .
