kakkar
Long

long..wait for bullish candle..

FX:NZDJPY   New Zealand Dollar / Japanese Yen
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4
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wait for the bullish candle Engulfing or pin bar ...to go long
Nice idea on NZDJPY and there may be bullish potential as you have identified. The 1st support that we have found at 74.13 falls between the support levels that you have identified. It is a horizontal overlap support, with 38.2% Fibonacci retracement and 100% Fibonacci extension x2. Stochastic is approaching its support at 2.4% where a corresponding bounce could occur. If there is a potential bounce, we may want to take a closer look at the 74.98 resistance level. It is a horizontal pullback resistance with a 61.8% Fibonacci retracement. Looking forward to seeing how things develop.

Please have a look at our idea and we would like to hear what you think.


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