NZDJPY touched Weekly Resistance: Potential SELL set-up
Hello Traders, I would like to present a potential SELL set-up in NZDJPY through this analysis.
As you can see, NZDJPY has touched the Weekly Resistance in the chart. Currently, the price looks overextended and too many positives(US China trade deal,etc) have already been priced in.
So, any kind of risk-off situation can lead to a sharp reversal in price.
Hence, based on BEARISH PRICE ACTION in lower time frames, traders can look for SELL between 73.30-73.80 with SL above 74.15.
TPs can be set at 72, 71.30 and 70.15 respectively.
As you can see, NZDJPY has touched the Weekly Resistance in the chart. Currently, the price looks overextended and too many positives(US China trade deal,etc) have already been priced in.
So, any kind of risk-off situation can lead to a sharp reversal in price.
Hence, based on BEARISH PRICE ACTION in lower time frames, traders can look for SELL between 73.30-73.80 with SL above 74.15.
TPs can be set at 72, 71.30 and 70.15 respectively.
Comment:
Sell entry at 73.45 and currently in profit
Comment:
Moving down nicely from my sell area.
Comment:
100H EMA broken in lower time frame
100H EMA broken in lower time frame
Comment:
Very close to first TP with more than 130 pips in the bag