1) We should see a continued retrace to 108.800 (Fib=0.38) and a possible price consolidation before the bullish trend continuation to 111.200 OR a break of 108.800 and retrace to FIb 0.5 before bullish trend continuation 2) Looking left we can see strong price rejections (yellow circle) around the 108.800 price level which will cause us to believe that price will ...
According to day chart analysis, NZDJPY is currently trading in a box as shown in chart for 9 days now, it is finding a way for breakout at 80.165. If there will be a breakout and a retest then the trend will pass through different points as shown. Typically will be a long Bearish move. Keep your eyes on this pair. This analysis is based on naked trading.
Hi guys, Here some price analysis: -Price on the upward trend of channel -A nice consolidation has been formed followed by a 2bottom -Just wait the the breakout of the consolidation -As usual, a good 2:1 risk-reward. Hope you liked my short but simple and effective analysis. Feel free to leave a comment or a like :) Cheers, Sebastiano
A big shadow has been produced providing criteria for bearish move. A formed candlestick is at the the resistance and engulfed both wick and body of the previous candlestick. Also presence of of enough room to the left support this idea that the chart never turn at that point for approximately 3 months.