FX:NZDJPY   New Zealand Dollar/Japanese Yen
51 2 2
Took a short position at market open this morning. I had to make room for the trade by closing a AUDNZD             long and a GBPNZD             long (netting 1800 pips in total). This pair is only just making its break and I think it might move a long way. The market reported huge Yen shorts via the COT report, that often signifies a turning point and a general risk aversion move seems to be sweeping equities. I considered taking the USDJPY             but was concerned about the FEDS likely moves ahead. As always i am working on a 1 - 6 month time frame for this trade. I wrote up the trade in advance you are welcome to read my efforts here. https://drive.google.com/file/d/0B0ewx-etIlgcZGtILW4ycVN5dFU/view?usp=sharing

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Good spotting. Resistance is clearly seen near 91 and the current break down at support. So 84 looks likely a target off the triple top?? I think we also see a break of the trend line too.
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SteveTobin PRO justatrader
You are correct about the trend line, it appears on the weekly and daily charts, my other concern was the overbought signal on the daily, however the weekly chart has a number of good technicals, break of the sumo cloud and MACD being the important ones. you can see these on the candle chart attached
snapshot
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