H4 - Bearish trend pattern.
Currently it looks like a correction is happening.
Until the two key resistance zones hold my short term view remains bearish here.
Hello traders ,what do you think about NZDJPY? After a drop, this pair has now made its upward correction and has reached the resistance zone. We expect it to drop to the specified zone after some fluctuation in this area.
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NZDJPY - 20h expiry - We look to Sell at 85.00 (stop at 85.75)
Previous support located at 83.00.
Previous resistance located at 84.50.
The sideways consolidation continued although the market managed to post a significant high at 85.00.
Risk/Reward would be poor to call a sell from current levels.
A move through 83.50 will confirm the bearish momentum....
Hope you are having a great week so far, This is how i'm currently looking at NZDJPY pair; Trading within support and resistance formation. Price broke structure within that S&R and has potential to trade lower. I'm currently waiting for a 1H bearish set up to go short. What's your thought on this pair?
Instrument: NZDJPY
Chart pattern: Bearish Butterfly
Optimal technical indicator: Ashi Candle
Current signal of optimal tech indicator: LONG
Optimal technical indicator win-rate: 52%
Days for backtesting: 1501
Timeframe for backtesting: 1D
Price at the time of forecast: 84,2700
Enter point: 84,2700
Take-profit: on chart
Current trailing stop-loss: on...
NZDJPY - Intraday - We look to Sell at 85.00 (stop at 85.75)
Previous support located at 84.00. Previous resistance located at 84.50. Indecisive price action has resulted in sideways congestion on the intraday chart. A move through 84.00 will confirm the bearish momentum.
Our profit targets will be 82.50 and 82.00
Resistance: 84.50 / 85.00 / 85.50
...
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current NZDJPY chart which, if analyzed properly, clearly points in the downward direction.
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NZDJPY - 24h expiry - We look to Sell at 85.00 (stop at 85.75)
Previous support located at 84.00.
Previous resistance located at 84.50.
Indecisive price action has resulted in sideways congestion on the intraday chart.
A move through 84.00 will confirm the bearish momentum.
Our profit targets will be 82.50 and 82.00
Resistance: 84.50 / 85.00 /...
The NZDJPY pair has been trading below (closing 1D candles) the 1D MA200 (orange trend-line) for nearly a month (since December 20), being supported at the same time by a (dotted) Higher Lows trend-line that started on the May 12 Low. A 1D Death Cross may be potentially formed as the 1D MA50 (blue trend-line) is closing in on the 1D MA200, which adds more weight...
Market Conditions:
- range
- bearish sentiment in the market
Key Level and Lines:
- 84.987 resistance
Trading Ideas:
- go short using reversal from the resistance
- go long if the price moves above the resistance and the market shows the bullish sentiment.
Well, this is a great retest of resistance level with RSI Divergence. Great Consideration for traders looking for a Support and Resistance Trading Setup.
We could be a bit early for this 5-0 Pattern trading setup. That is because the daily chart has not confirmed; the candlestick pattern confirmation is required.
I pull the trading confirmation of the 1-hourly chart. This is a trading management I've been using and refining for the past 5years.
There are 2 kinds of trading management for the such...
NZDJPY has been stuck in this sidewards range now. We printed a double bottom and a more rare triple top however price is now approaching the top for the 4th time with the JXY currency index retreated to the bottom trend line of its up trend but no break down. I am looking to see if we break to the upside which is prefered but if we reject i will sell this for a...
Waiting for a pullback into 84.471 at the top of the range to short NZDJPY back down to swing lows at 81.448
If you agree drop a like and if you have any questions leave a comment :)
Hello,Traders!
NZD-JPY will soon retest
The horizontal support level
So we will be expecting
A bullish rebound form
The support with the
Target being the
Local level above
Buy!
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