1. 8/13 EMA daily timeframe crossover has triggered a bullish sentiment
2. Retracement of the previous swing is 0.786.
3. Current projected of is 100% of the previous swing pattern could be 3 or 5 wave move.
MERRY CHRISTMAS AND A HAPPY NEW YEAR.
Beautiful break and retest of a Cup & Handel patter on the 1 & 4 hourly for NZDJPY .
Autochartist.com also giving a long signal with a target of 78.72 within the next 24 hours.
However, the technical target of the Cup & Handle is around 79.50!
My Trade: Long NZDJPY
Target 1: 78.75
Target 2: 79.50
Time Frame: 2 days
The basic concept of the chart is Dow theory and it suggests that HH HL is in play based on that we can easily say that a long position should be taken and the first target is 83. Also, stop loss should be applied on the dark green line.
RSI also suggests a highly oversold position.
Don't forget to click on the follow button for more daily professional analysis,
Here we have our NZDJPY Chart.
After the recent rally across Yen pairs, we have seen a strong up move out of lows.
Often, when you have up moves they will not be complete immediately.
You will get PullBacks's.. and you have to take advantage of them!
We are long to our next TGT...
As you can see the price action is at a very crucial point. Strong support followed by a strong trend line which has been respected for quite some time now. We can also sign of rejection and bullish divergence. It all adds to the fact that we should see an upside push very soon.
Please let me know your thought.
Trade safe and use proper risk...
Follow up to yesterday's prediction :
as mentioned in the Chart Yesterday , there were 2 scenarios possible for the price movement . The Price is following Scenario 2 and is now ready to move up till the Target of 79.38. The currency pair has already tested the lower Resistance of 76.67 and is ready to show some bullish movement!
Long term uptrend for NZDUSD
Golden cross can be seen corresponding to the right shoulder of the inverse H&S
Comparable points in green ovals
Alike with AUDUSD, very similar points can be drawn between now and in the past. Heres the post.
On the verge of break of HTL and VTL on 2H timeframe.
A short high probability sprint available for NZDJPY between 80.690 (buying SL) to 80.790 as 1st TP
SL as per risk appetite, first small logical SL would be below 80.3.
Trail SL as we move ahead.
NZDJPY LONG - Buy Entry - H4 Chart
Entry Price: Buy @ Market
Stop Loss: 79.650
Take Profit: 81.957
🔺 For educational informational purposes only.
🔺 Analysis may change at any time without notice.
🔺 You must research and create your own trading plan.
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
If you like this idea, do not forget to...
Since 20th August, NzdJpy is in an uptrend rising around 800 pips and also breaking above the neckline of an H&S pattern
In the last trading month, the pair has started to correct and I believe we are close to resuming the uptrend.
At this moment NzdJpy is entering a strong buy zone marked buy old horizontal supports and 50% Fibo for the last leg up