#nzdjpy, jpy quite weak since last few weeks, 21st daily bar is key reversal bar mostly jpy pairs. this is early indication for jpy strength while trend is still weak in jpy. 21st daily bar dictating correction in jpy pairs. short nzdjpy with two levels mentioned in chart by dividing risk equally on both. target 80.05
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
This is my view on this pair for the next days on #NZDJPY
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only if specific rules are strictly respected.
If you follow my strategy you will be able to identify the right filters and triggers to enter correctly the market and...
as we can all see that nzd usd is going down so do the nzd jpy
it broke a strong support level and market is back at that broken structure to retest
look for bearish confirmation on lower time frame and enter short with your own money management
discipline with patience is the key to success in Forex
NZDJPY broke ascending trend line and are currently awaiting for the news to get some volatility going with JPY.
The volume flow can bring the price down to 76.000 area in the long run.
What's your bias for this pair?
Since February, NzdJpy has had 6 attempts to stay above 79 figure and failed every time.
Now the pair broke under trendline support and is trading just in horizontal support level around 78
A break here would give bears the upper hand and would expose 76 support.
NzdJpy back above 79 would negate this bearish scenario
As we can see price giving us a breakout for uptrend but though though resistance is very promising so im looking for a sell and candlestick indicating the sellers taking over the bulls . so taking sliding into with a 1:12 RR. if going into this trade please move SL 4 pips up
As i can see this pair is fail to break a strong resistance an trading inside channel
First TP is an easy target as soon as it will break the channel all other TP become valid
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After breaking under trend line support, NzdJpy came and confirmed this break and started to roll back down.
At this point, a lower high can be in place and a new leg down is probable
Bears can target 74 in the medium term and only prices above 78 would negate this scenario