NZD/JPY upside stalls at strong resistance, scope for downside to test 76.90.
Stochs and RSI on 4H charts are indicative of some correction lower.
A bearish 5DMA cross over on 10-DMA seen, momentum has turned bearish.
Sell rallies around 77.60/70, SL: 78.30, TP: 77/76.90/76.50
Support and Resistance zones for NZDJPY with Fibonacci levels to keep an eye on. Price has recently bounced lower from the 50% Fibonacci level, with price currently experiencing a small bounce on the edge of a key monthly support zone.
= Monthly, weekly and daily charts showing strong support around 75.000 and upwards sloping trendline.
- Bullish MACD divergence
- Possible break of 77.000 and retrace to test for potential long entry?
- Thoughts?
Price already broke this months resistance. Waiting to see will the price break 1x2 Gann angle. If it breaks it with one confirmation - BUY. If it bounces, wait to go back below the monthly resistance line and SELL.
NZDJPY
Hello everyone, here we have few patterns on this pair. If the price manages to go towards 73 we have few more patterns lining up within potential trend lines.
I sent these potential patterns few days ago to my free subscribed members. To signup visit my website AllTradingIdeas.com and signup there or email me.
Good Luck
AllTradingIdeas...
The NZDJPY seems to be trapped in a range. Take the trade opportunity to SHORT up to 74.193 . then go LONG from that level to 75.916. Apply due dilligence.
Feel free to like/comment!
Trade will be active if prices touch the orange dots.
Stop around the red line.
Target around blue line (38.2% retracement).
Good luck
Renewed weakness in NZ dairy prices overnight (GDT-TWI down 2.9%) kept the Kiwi weak. NZD/JPY tested lows of 74.43.
Our previous call (link below) has achieved targets.
Yen weakness across the board is keeping the pair from extending downside, NZD/JPY has pared losses and is currently trading around 74.90.
On the 2 hourly charts, momentum has turned positive,...
Good morning traders,
I´m shorting NZDJPY using Keltner channel indicator and 200 MA, but also due to RBNZ rate cut yesterday . China slowdown might be affecting NZ.
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