With almost 80% bullish sentiment, this pair is a good candidate for shorting. I'm willing to short it from red area with marked targets.
Bear in mind that target timeline is not proportional - it can take up until April to reach the lowest one - if it will even continue to downside. If not, SL will solve the situation.
In case of downward continuation, SL can be...
NZDJPY respected demand zone at level 70.00
Price is above HVN at level 69.57 which indicates that pair is in accumulation phase
Price broke minor downtrendline
Above SMA 100 on H1 frame
RSI making higher lows
It's expected to target first key level at 71.30
then target major downtrendline at level 72.75
NZDJPY is bear again on daily chart.
This time , it might finished a 5-wave sideway corrective way and start a new impulse wave on daily chart for 358 pips.
This is not a intraday trade but a trade going to take weeks to finish.
Good luck .
LESS IS MORE!
Currency Pair: NZDJPY
Date/Time of Signal: 21st February 2020 / 1520hrs (SGT)
Pessimism about the Chinese growth outlook continue to weaken the New Zealand dollar.
NZDJPY has been unable to break and bounce of the resistance level of 71.20.
Trade signaled to sell NZDJPY (Entry: 70.55) with 3 Take Profit (TP) Targets (TP1: 70.35, TP2:...
4H CHART EXPLANATION:
- Price is on a downtrend after bouncing at the Resistance Zone.
- It has now found Support at 70.00.
- We have two possible scenarios here.
- The long view, will be activated in case the Descending Trendline is broken to the upside.
- The short view, will be activated in case the Descending Trendline can not be broken.
- Will wait for...
RBNZ Rate Statement 8pm EST
Currently trading at strong support and a critical level.
Pair is play. Trade accordingly.
Please take a moment to like this idea.
Technical Analysis alone is meaningless. You need a complete trading system.
You need proper position sizing.
A watch list of what you will trade.
A strategy with an edge, and the...
-PAIR COULD NOT CREATE A NEW SWING HIGH
-DOUBLE TOP/ HEAD AND SHOULDERS OF THE MONTHLY RESISTANCE
-MA'S CROSS TO THE DOWNSIDE
-FOURTH DAILY TREND-LINE TOUCH, LOOKING TO SEE A BREAK
-PRICE WILL WANT TO RETEST THE LONGTERM DOWNTREND WEEKLY PINK TREND-LINE AFTER BREAKING OUT ON THE 12TH DECEMBER