NZDJPY is on an uptrend, creating higher highs and higher lows, the price on strong support area and the chance to go up and continue its trend is very likely; here is the setup:
NZDJPY Buy at 72.565
Stop Loss at 71.689
Target Profit at 74.462
Check Telegram bit.ly
Broker I trust bit.ly
This pair is into a great downtrend, we recently got an almost 2 weeks retracement ended by a high test candle right at the 50EMA level sending the price back in the down direction.
I believe it will continu to drop until the end of the month down to 0,67
Since we are a little bit late to enter on the daily chart i'll search on the intraday charts in the following...
By Andria Pichidi - June 17, 2019
NZDJPY has remained buoyant at 70.70 after bouncing from a 5-month low on Friday at 70.42, on Yen selling. This price action comes with there being little directional impulse in stock markets in Europe or Asia, but also as Kiwi leads gains since Asia Pacific trading amid better risk sentiment.
Markets are anticipating major...
NZDJPY just touched the daily trendline which also meets my resistance area. As it couldn't break none of these successfully I'm expecting it to continue the downtrend.
In the other hand, the price has bounced on the 61.8 fib level which is also a good confirmation of trend continuation.
However, I'll wait until it breaks the previous uptrend to go short. If it...
Possible Short on Kiwi Yen, We still have bullish strength so I'm waiting for extra confirmation, analysis is on the chart. The red line (Stop Loss) is also a .618 Fib of the major move, might want to place your stops above that if we do enter this.
We have seen this pair rally off this Major Support a number of times now. The Kiwi showed great strength in November where it had its strongest rally of the year.
Now that we are a approaching these levels where the rally started we can expect strong demand and high volatility.
Here is a possible textbook example of a triangle breakout trade. To be safe, always wait for a retest of the former support and then start adding positions. Remember to always put patience first and profits will surely follow. I have marked in the chart an invalidation area of this setup.
With the current sell off of the Kiwi, we are approaching an area where there could be a reversal.
This ties in with the the EURNZD and AUDNZD pairs that also show an area of possible reversal.
Price may rebound between the areas marked out by yellow boxes.
The sharp drops from the yellow boxes above (supply zones) tell us the pair could rebound upon returning...