NZDJPY ABOUT TO DOUBLE BOTTOM... 😈😈😈
Hi Traders
Who is ready for another profitable week in the markets?
Here we have NZDJPY.
We are anticipating some further weakness coming into the New Zealand dollar and at the same time seeing some strength coming into the Japanese Yen making this the perfect set up for us.
This position has set up nicely for us with the below confluence factors:
- Daily 21 EMA Retracement
- 0.5 FIB Retracement lining up with the EMA.
- Expecting NZD weakness
- Expecting JPY strength
- Market is in a developed downtrend
- Recently rejected daily resistance
Let me know in the comments below what you think of this set up and lets see how it pans out in the week ahead. Watch out for the double bottom and we will re-evaluate this pair when we see this!
Have a safe and profitable week!
The Fx Chartist
Who is ready for another profitable week in the markets?
Here we have NZDJPY.
We are anticipating some further weakness coming into the New Zealand dollar and at the same time seeing some strength coming into the Japanese Yen making this the perfect set up for us.
This position has set up nicely for us with the below confluence factors:
- Daily 21 EMA Retracement
- 0.5 FIB Retracement lining up with the EMA.
- Expecting NZD weakness
- Expecting JPY strength
- Market is in a developed downtrend
- Recently rejected daily resistance
Let me know in the comments below what you think of this set up and lets see how it pans out in the week ahead. Watch out for the double bottom and we will re-evaluate this pair when we see this!
Have a safe and profitable week!
The Fx Chartist
Trade closed: stop reached:
More NZD strength in the market than expected.
Stop loss hit.
Stop loss hit.