"Analysis of NZDJPY Pair: Breaking the Last Resistance"💹 Let's analyze this forex pair, which is at a critical point, and discuss the entry and exit triggers.
🌟 Weekly Updates:
Starting from Monday to Wednesday, we'll cover , Monday: Bitcoin and Dominance analysis , Tuesday: Ethereum and ETH/BTC analysis , Wednesday: Gold analysis
These are in addition to our daily analyses.
🎉 Channel Milestone 500 Followers:
Thank you all for helping this channel reach 500 followers! Our next goal is 1,000 followers. Let's keep growing together!
📊 Market Impact News:
Investors are awaiting key U.S. inflation data and the Federal Reserve's policy meeting for insights on interest rate cuts. A strong U.S. payrolls report may limit the Fed's ability to signal a September rate cut, potentially impacting gold prices further. The May consumer price index (CPI) inflation report and the Fed's interest rate decision on Wednesday are expected to cause market volatility.
📅 Monthly Time Frame:
We are really at a critical point in the market, reaching this resistance after about 9 years. If we can stabilize above this resistance, the chart will be strongly bullish, and our RSI will enter the overbuy territory. If the monthly candle closes as it is, we can feel the buyers' strength because there is a lower shadow, indicating sellers tried but failed, and buyers entered the market.
🕰️ Weekly and Daily Time Frames:
Contrary to most forex pairs that are ranging, we are in a completely bullish condition, with all our short-term and long-term cycles currently being bullish. We are also moving on a parabolic and curve pattern, which is inherently bullish. If broken, it will need to break in this timeframe to result in a trend change or a short-term rest. We have also lost the last resistance stronghold at 94.204.
⏳ 4-Hour Time Frame:
However, due to news in the past few weeks, we had fluctuations that we can ignore. After moving towards the 96.775 resistance, we are currently fluctuating in the 96.775 to 95.532 box. Since we have no information on the left side of the chart, we can't have future targets unless we use Fibonacci.
Using Fibonacci from 93.558, after the news fluctuations no longer impact the chart, we observe that we've corrected to 0.382. After breaking the ceiling, we can expect a strong movement. Using the previous Fibonacci, we draw a Fibonacci extension, obtaining approximate targets of 97.567, 98.125, 98.840, and 99.757.
📈 Long Position:
You can open your long position in the direction of the trend after breaking the 96.775 resistance line or using a stop buy, ensuring all types of trend confirmations.
📉 Short Position:
This is not a good place for a short position; we need a trend change. However, if this resistance is faked, you can riskily open a short position after breaking 95.524.
💰 Gold Analysis:
I'll post the gold analysis before the news today. Be sure to stay at the chart, gain experience, manage your positions, and open positions with less risk.
🔑 Upcoming Supports and Resistances:
Supports: 95.224, 93.558
Resistances: 97.567, 98.125
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice . We're here to stay in the market and maximize profits by adhering to risk and capital management principles.