the previous consolidation seems to be done as JPY could show more weakness due to rising yields.
The structure and volume for NZD/JPY looks pretty bullish to me and I`d look for a breakout above the current correction in order to follow the primary trend.
A flat-type-correction is always a good sign for accumulation and could soon cause...
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
Price making a clear HnS pattern. Neckline already broken so we might see further downside in this pair.
We will keep it simple by selling this pattern as it is very clear.
Sell NZDJPY 76.90
Stop loss 77.50
Take profit 75.70 (2R)
Use only 1-2% risk
Hello Traders, here is the full analysis for this pair.
Watch strong action at the current levels for BUY GOOD LUCK! Great BUY opportunity NZDJPY .
I still did my best and this is the most likely count for me at the moment.
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after the strong down trend on NZD pairs we now see a retest on NZDJPY on a beautifull uptrend and if the price drops below the line it can strongly compelete the previous movement.as we see the divergence on Stoch and RSI as well
NZDJPY price has been rejected from top of higher TF Rising wedge structure quite impulsively. Shortly after breaking the Rising wedge, it start to form a bearish continuation flag pattern and managed to break it by few pips on Friday.
This is a trigger for my short sell position on this pair with sl above the flag structure. 1st target is arround 77.000 area...
This is my view on this cross for the next few days.
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...
Hey traders, here is the analysis for the NZDJPY. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.
NOTE - Please do your own analysis before taking the trade.