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
Friends if you like our ideas kindly push like and comments we appreciate that &
Follow us for more updates
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
The pair reached a strong level from the weekly realm, acting as resistance; the previous week, the market closed with a bearish pin bar, giving some confirmations for the downtrend movement to come.
Now moving into the intraday domain at H1, the price has failed to form a fresh HH, looking for additional bearish confirmation to place a short entry with a...
As we can see
nzdjpy moving forward as a bullish structure
and we know that when bullish trend , the trend also have nature structur
which is impulse , correction , continuation , reversal
as we can see
nzdjpy haven't higher low
so here we see the clear rising wedge pattern and bearish divergence maybe can push nzdjpy to bearish (making higherlow)
NZD/JPY Signal (H4 Timeframe)
A high probability, entry to go LONG has formed @ 76.186 after the market found support @ 75.781. Only the downward break of 75.781 would cancel this bullish scenario.
Stop loss: 75.781
Take profit 1: 77.260
Take profit 2: 78.190
Take profit 3: 79.706
Strategy: Bullish Wave - LTF
For this specific pair we just corrected to the 0.618 FIB level and we expect the market to reject that level since we have a confluence of support in this strong area of demand. the environment might shift to a bullish environment in maybe an hour or two , you might want to put this pair on your watchlist.
Now if you enjoyed this analysis smash that like button...
Good day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair.
Monthly : We Have an overextended "W" Formation and we expect a retracement at least to the 0.382 FIB level or to the neckline .
Weekly : We also have an "W" formation as well and we just completed the pattern.
Daily : We have a rising wedge so we expect to...
Good Day traders !! On this pair we have on the Monthly timeframe an interesting situation since we had a massive impulse that is during more than 5 months now and we expect to see some correction. By taking the Fibonacci retracement on the current impulse leg we can set three potential targets for short setups.
On the weekly timeframe we have a market that is...
I'm not sure when and where NZD/JPY may rally or bounce to 75.7,
Anyway it's clear that NZD/JPY stay long structure,
I'm doubt that NZD/JPY have any chance fall below 75.257,
So I have many limit pending orders, each attached a little stop-loss.
Yellow text labels are buy prices, and Blue text labels are stop-loss prices.