The NZDJPY has been making textbook moves for the past 5 or so months and nows the perfect time to see some changes. We had a wedge pattern forming, as well as a bat pattern within the wedge as a little reassurance to buy. Following the leg formed by the bat pattern, we turned around at the .618 giving us a very nice 2618 formation. Going on, theres now a couple ...
NZDJPY has made a bullish exit of our descending channel and could rally strongly from here. A strong rally could occur above major support at 77.66 (Fibonacci retracement, horizontal overlap support, breakout level) towards 79.24 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (89) has made a similar bullish exit signaling a change in ...
NZDJPY is approaching major support at 76.08 (Fibonacci extension, horizontal swing low support, Elliott wave structure) and a potential bounce could occur at this level to drive price up to 77.66 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (34,5,3) is seeing major support at 1.7% where a corresponding bounce ...
NZDJPY is approaching major support and a potential bounce could occur at 79.45 (Fibonacci retracement, Fibonacci extension, Elliott wave structure) to push price up towards 80.51 (Fibonacci retracement, Elliott wave structure, horizontal overlap resistance).
Stochastic (55,5,3) is seeing major support above 1.7% where a corresponding bounce could ...
NZDJPY is approaching major support and a potential bounce could occur at 79.45 (Fibonacci retracement, Fibonacci extension, Elliott wave structure) to push price up towards 80.51 (Fibonacci retracement, Elliott wave structure, horizontal overlap resistance).
Stochastic (55,5,3) is seeing major support above 1.7% where a corresponding bounce could ...
NZDJPY has broken our major ascending channel support triggering a potential bearish exit. Our major resistance level is at 80.40 (Fibonacci retracement, pullback resistance) and a strong reversal could occur from here to push price down towards 80.02 (swing low support, Fibonacci retracement) before 79.50 (Fibonacci retracement, Fibonacci extension, horizontal ...
NZDJPY has continued to bounce up perfectly as expected as it remains in our ascending channel. Major support remains at 80.57 (Fibonacci retracement, bullish channel support) with the next major level of resistance at 81.26 (ABC Fibonacci extension, horizontal swing high resistance).
RSI (34) sees multiple bullish exits signaling that bullish momentum is still ...
NZDJPY remains in a strong ascending support channel stretching back to the beginning of December 2017. Our first major support is at 80.26 (Fibonacci retracement, horizontal overlap support, channel support) and a bounce could occur at this level to push price up towards 81.25 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (55) sees ...
A very possible move to keep an eye on.
This is a long term position and I would suggest placing your order after more confirmation is here.
If this level does not hold, then the long term bullish is canceled.
And as always risk manage properly and stay consistent!
Happy Trading!
