NZDJPY Bearish

With stronger JPY lately (esp after last Friday's US strike in Syria) together with another risk-haven gold, and no signs of recovery yet for NZD, this pair is more likely to continue being bearish. I've setup a higher stop order in MT4, and a late but more conservative version here in tradingview, few pips below current period's S1 pivot line, with TPs at S2 and S3 respectively, and SL near base pivot line.

www.dailyfx.com/fore...S-Strikes-Syria.html

seekingalpha.com/art...trade-make-right-now

www.dailyfx.com/fore...d-Resumes-WEgsi.html


D:

W:

Confidence: B (though sentiment, fundamentals and technicals are aligned, there's a possibility of a recovery/reversal soon since most hedge funds are betting a weaker yen in the long-run, and if AUD recovers again sooner, NZD might follow suit)

Comment:

Watching closely because of this news:
www.dailyfx.com...mon-Ground.html?DFXfeeds=f...

Since NZD is still weak regardless, waiting for a hit in TP1 at least.

Trade closed: target reached:

Thankfully TP1 was hit before reversing for good.