NZDJPY has respected the resistance level of 77.921 and moving back to our support on 76.400 Reason for trade : A Doji has formed on the 4 hour time frame and also respected the level which gives me the confirmation for a down trend tp: 76.400 sl:78.130 Use proper risk management when trading I always use risk ratio of 3:1 win 3 and loss 1 Remember...
We open a long position for this week to reach next target
... with tight (~25 pip) Stops.
NZD will make correction soon. Use your money management wisely. If you have any idea, leave comment below and don't forget give me like Thank you
This should be good for a ~300 pip SHORT here but be careful as this is a strong counter-trend move. The Weekly;
Again, this pair is in a bearish channel, the price could touch the daily resistance before a bearish reversal.
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Price reversed at a strong resistance area and has touched the descending trend-line. Could drop further to 71.769 and below.
D1 FRAME NZDJPY DOUBLE BOTTOM PURPLE TRENDLINE IF CAN BREAKOUT SAFE LONG TRADE
Price found support @67.5 making a Higher Low on the daily chart. I expect a Higher High from this point forward at least to the next historic Support/Resistance level @70.4 and maybe Price will flourish even higher close to 72.0 hitting the long term Down trend line.