sedemmler
Long

NZD/JPY Primed for a long run?

FX:NZDJPY   New Zealand Dollar/Japanese Yen
114 7 1
Thoughts in the chart.
ForceFollower
3 years ago
You're right, the odds are to the upside. However, it's been pretty messy recently. I'm afraid, the yen's weakness may soon be exhausted, and I'd be cautious betting on the yen's weakness in the coming hours. I also don't like the market hugging the basic trend line so closely, it may give way to some sell-off.
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sedemmler ForceFollower
3 years ago
You're right. For now the price has (remarkably) stayed within my lines, but any correction, even a major one, seems like a great buying opportunity still. Unless something changes at the BoJ or in Abe's mind (or if he gets fired?), the big trend is Yen weakness.
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ForceFollower sedemmler
3 years ago
I agree, the yen's weakness continues to be reliable. My only concern here is the kiwi's ability to strengthen enough to be able break out above those swing highs. But I like the support level at 82.8, the way it's held - it bodes well for your position.
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sedemmler ForceFollower
3 years ago
There main concern for the thesis is definitely the Kiwi's ability to strengthen even more than it has recently. But a few more hours into this and it's still playing out positively.
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ForceFollower sedemmler
3 years ago
Looking very good. :-)
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sedemmler ForceFollower
3 years ago
I posted an updated version for those who many not have gotten in yet. But, yeah, this has worked out great so far.
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sedemmler
2 years ago
4 months later and I'm rich! ;) Not sure how long this run will continue though, so play it carefully.
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