The zone of 71.100-200 proves to be a tough nut for the pair. Despite multiple attempts, the price is unable to break above it. Further, the price action has formed an evening action star pattern at the resistance zone. Hence, we expect the pair to be bearish in the near-term.
As you can see in D1 Chart, NZDJPY did a fake breakout (I Posted about it before) It did not continue up. so now it should continue it's consolidation again and it's next move will be Sell. As you can see it has retested the resistance where the fake breakout occured. it will now most likely head towards the 69.500 Level Now. Comment if you have an alternate idea.
NZD - BEARISH 1️⃣ Investors were cautious on news that AstraZeneca paused its late-stage trial of one of the leading COVID-19 vaccine candidates after an unexplained illness in a study participant. 2️⃣ Director General of Health Ashley Bloomfield reported six fresh cases of the novel coronavirus in New Zealand, all of which are linked to the Mt Roskill...
Last week NzdJpy traded for just one day above 71.50 resistance. The break proved to be a false one and a strong bearish engulfing followed. Usually, false breaks announce strong reversals and I expect the pair to drop to recent rage support at 69 zone. Sell trades around 71.50 have a great R:R
Hello Traders! ------------------------------------------------------------- 🚀Sell Execution according to the market.
Hi traders, As you can see this pair has reversed somewhat and currently trading below 50 EMA. We have seen a pullback with a bearish candle which suggest we might see another push down to make a double bottom at least if not more. I have therefore gone short on this and marked tp and sl for you as well. Let me know your thoughts. Trade safe and good luck.
1 touch 2 touch 3 touch GO! 1. We have 51 EMA touching and being respected at 3 points in the Market. 2. Two touch makes a tend line and links all the highs Looking for Sell Opportunity, Looking for Entry in Lower time frame 30 minute chart.
I took Short Position At The Top Of The Structure And I Believe This Trade Will Go Short. Never The Less We Have To Always Manage Our Risks, FX Is Not A Rich Quick Scheme Stay Safe, And U Can Take That Trade.
Fib retest and fall to 68.100 zone.
The counter is currently formed a flat ABC corrective wave. It broke out from a bear flag pattern, tested the broken support, and is now coming down with strong momentum. Hence, we expect the pair to be bearish in the near-term.
Hello my friends, This is my more detailed analysis to NZDJPY of my previous post. Previously i posted about NZDJPY making shoulders head pattern and today price finally closing below 70.00-69.90 support on 4hr timeframe basis. I tried projecting NZDJPY downward movement using Elliott Wave theory and it is possible price could go down until 68.20-68.30...
I am monitoring price here to see what the next move for NZDJPY is, I have illustrated what could potentially happen next if we manage to hold below this structure.