We have a few very important announcements coming during the European session today...
Here we are starting to become more selective with AUD and NZD, both against JPY should see further downside as the rising-rate environment remains intact.
=> The RBNZ disappointed markets earlier in the week sending yields higher across the curve. NZD caught a bid for these...
-NZDJPY bears are coming FAST! NZDJPY looking bearish after showing signs of reversal. Buyers pushed price up into resistance, wherein sellers stepped in and pushed price down before the daily candle closed.
-The price action resulted in a daily candle pinbar setup AT RESISTANCE which is a bearish sign.
-On the 1H time frame, price just broke a bullish...
*Sharing Entry time frame screenshot. Price curve and trend analysis for another discussion.*
1. Price trading in an expensive area of the Monthly chart.
2. Price retracing back to the origin of an explosive move away from 77.00 level on the Weekly chart.
3. Looking for novice buyers on the Daily chart who attempt to join this "uptrend" too late.
I am looking for NZDJPY to make a move to the south side here. I would like to see it come back up to form a right shoulder then breakdown lower outside of the trend channel i have drawn up also verifying the demand zones i have highlighted in green
Chart time frame - H4
Timeframe - 1-2 days
Actions on -
A – Activating Event
Market will meet resistance in zone @75.87 - 76.50 and fall to the @ 74.5 In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 74.5
Decision point for price as it is back at resistance for the 3rd time now. Will be watching for a break higher for price to make its way back towards the long term descending trendline, or a rejection off resistance for price to make its way back to the 4 hour ascending trendline.
THERE IS A BULLISH PATTERN FORMED ON DAILY
AMD LOOKING AT SMALLER TIME FRAMES WE CAN SEE HEAD AND SHOULDER ALSO FORMED
DIFFERENT HORIZONTAL LINES SHOWS DIFFERENT TAKE PROFITS
CHAT ME UP IF YOU WANT TO JOIN OUR FREE SIGNAL CHANNEL
Updated On NZD/JPY (15 Feb 2019)
It has hit the resistant level of 76 and currently, it’s making a pullback.
It can swing to the nearest support level of 74.06.
It is more of just "a momentum play" to us before it resumes the overall uptrend.
We expect the sell-down will be pretty much contained as we see the pairs have potential massive support near 72.3...