Hi Traders, here is the full Video Analysis / Breakdown for NZDJPY ( weekly Analysis).
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Keep this pair on your watch-list.
1.Wait for confirmation(Wait For Price Action Confirmation / Market Environment Change )
2.Use Risk Management (Risk 1% of your capital)
3.Do your Own analysis!
4.Follow for more Analysis like...
Weekly Nzdjpy as we can see the head and shoulder Bottom is complete and could start down trend this week based on chart patterns
so this is my expectation for the next 3 months
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NZD/JPY is making new lows and has currently broken the 200 EMA on the 4H chart.
We have 2 reversed hammer one by the side of the other meaning there is strong weakness.
For the next breakdown to begin right away, prices would have to not break the 200 EMA on the 4H chart (Which is the last high of the 2 reversed hammer candlesticks).
If it does break the 200...
Shown in this example is the Monthly timeframe of the NZDJPY where we are currently sitting at the potential formation of a right shoulder in a reverse head and shoulders pattern. At the moment this market is showing respect for the low that was established at the left shoulder right around the 73.11 level. The ability for this market to stay above the left...
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!
Many of the Yen pairs have found themselves at support with daily stochastics in oversold territory. We are expecting Yen weakness to kick in over the next two to three weeks, so maybe tomorrows catalyst for the Kiwi will be the quarterly Retail Sales figures due out at 23:45GMT on Sunday.
A good print here could see the Kiwi further strengthening off...
ON THE DAILY CHART WE HAVE PRICE BREAKING OUT FROM THE SUPPORT TREND LINE.
WAIT FOR PRICE TO RETRACE BACK TO 73.249 AND SELL FROM THERE.
STOPS LOSS AT THE 75.871 LEVEL.
FIRST PROFIT TARGET IS 72.216.
SECOND PROFIT TARGET IS 67.980.