FOREXEL

NZDJPY - Feedback wanted from breakout pros

FX:NZDJPY   New Zealand Dollar / Japanese Yen
169 11 4
Got a bit of challenge with this one.. looked like this pair was preparing for a re-test but reversed sharply after the RBNZ news this morning.. now is this just noise or is this pair now forming a foundation at current levels to go higher.

On the weekly and monthly charts it gives another picture by not being that far from a great supply area which should challenge this climb in the near future anyways.

Whats your 2 cents on it
snapshot


Basically the initial Break Out move is over as RSI has hit the upper range, so its profit taking mode for now.

Can wait for the next move up, and hopefully it will retest support and RSI goes to 30 and rebounds back above 40, will be a good indication for the next entry.
+1 Reply
FOREXEL BreakOutArtist
Thank you, your feedback is much appreciated
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You bet, glad to be of help...thank you as well
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BreakOutArtist PRO BreakOutArtist
Welcome, thanks for asking!

I do not follow Cross Currency pairs that closely, so I learnt something new as well.
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FOREXEL BreakOutArtist
Glad to hear that and yes I will be back for sure. Great to have someone to ask for some advise now and then ))
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Ok NZDJPY is still in profit taking mode, I guess we are now on the watch for signs of buying support.

snapshot
+1 Reply
lol, sorry pal, didn't know you were asking for someone specific,..anyway, happy pips
+1 Reply
BreakOutArtist PRO ChristopherMichaels
Lol it means Christopher you are also a breakout Professional!
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ChristopherMichaels BreakOutArtist
lol Thank you sir, much appreciation!
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WAS with this one since late Oct. Got out, @ 92.224. IMHO, I'm holding off for now till a daily close above .94.00 My 2 cents..
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