NZDJPY Short - I'm In

FX:NZDJPY   New Zealand Dollar / Japanese Yen
282 12 9
Good opportunity to go short on NZDJPY             , there is a MACD Divergence and also bearish price action at a significant resistance.
Trade active: Entry was 81.99
Comment: Stop Loss moved to Break Even
Comment: Monetary policy statement from RBNZ was pretty bullish, I would sell again at better levels if there is a opportunity, but for now, I will let a free risk trade :)
Trade closed: stop reached: Break Even - No losses :)
Comment: As I commented above, monetary policy from RBNZ was bullish, so I decided to move stop loss to break even.
Comment: Now there is a nice double top on this pair, maybe a good opportunity to go short again!
Thanks Piet. it can be a great opportunity. what about entry price, SL, TP?
Piet.Hein FereydoonIzady
:) Stop loss must go above 83.33, I see 83.60/70 as enough, but if you want even more caution, above 84.10. A good take profit, to really make this trade worth, is between 76 and 74.40
+1 Reply
this can be very great trade but i think it's alittle soon. also we are on D1 trendline supoort. wait to break it
Piet.Hein FereydoonIzady
yes, do agree. But looks good on weekly too, there is a short signal, nice pin bar with stochastic above 80, also rsi warming up to a big fall and everything at a lower high just at a weekly resistance. looks very good.
+1 Reply
Good. just SL is too big for ,e
Piet.Hein FereydoonIzady
I do like safeness ;)
Piet.Hein Piet.Hein
but need to remember, last monetary policy statement was bullish, there is no more rate cut coming from RBNZ, it is a bull signal for the NZD against others currency. For example it is giving a good hold against USD on NZDUSD daily, but technically a eminent fall is likely on both pairs (nzdusd and nzdjpy)
+1 Reply
thank so much , update again please
Piet.Hein ChatchaiVong
I've already close this trade on break even because of RBNZ last monetary policy statement was bullish (we can see this on the big pin bar of 12/09). But of course there is still a chance of a big fall, JPY is very strong against CAD, AUD and USD these days.
Piet.Hein ChatchaiVong
At the moment I'm just with 2 open positions: short AUDJPY and short CADJPY. And also with a sell limit on NZDUSD around 0.6890.
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