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Nzdjpytrading

NZDJPY: Channel Up bottom buy.NZDJPY is neutral on its 1D technical outlook (RSI = 54.679, MACD = 0.060, ADX = 31.385) as it trades between the 1D MA50 and the 1D MA100. Despite the neutrality, the price sits at the bottom of the Channel Up pattern, having made its 2nd contact this month. The 1D MACD has been squeezed and is past a Bullish Cross, which has been a buy signal inside this pattern 2 out of 2 times it was formed. Consequently we turn bullish on the medium term aiming at +6.00% profit (TP = 95.500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
2
NZDJPY: Bottom forming, buy confirmed above the 1D MA50.NZDJPY is trading inside a Channel Down with the price rising after a bottom check in the past 20 days. The 1D technical outlook is neutral (RSI = 53.482, MACD = -0.002, ADX = 31.647) meaning that if this is a bullish reversal inside the Channel, there is still time to enter. The trigger signal will be a cross over the 1D MA50, that will be our entry and our exit an RSI reading of 65.00 and over. We estimate the target to be roughly under the 0.618 Fibonacci level so until the RSI hits 65.00 we will set the target accordingly near the top of the Channel Down (TP = 0.61850). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
NZDJPY: Use the 1D MA50 as the pivot level for your trades.NZDJPY is trading inside a Channel Up since March with the 1D timeframe neutral (RSI = 52.530, MACD = 0.380, ADX = 27.602) after last week's rebound on the 1D MA50. This tells us that this is the technical pivot and as long as it holds the new Higher Low for the Channel Up, hence a bullish signal targeting the R1 (TP = 89.675). If the price crosses under the S1 (86.235) this bullish signal will be invalidated and we will sell, targeting the S2 (TP = 83.550). An early sell confirmation may come when the 1D RSI crosses under its HL trendline. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
1
NZDJPY: starting the final sell wave of the Head and Shoulders.NZDJPY is on neutral 1D technicals (RSI = 50.536, MACD = 0.110, ADX = 26.358) as the price is consolidating after a rebound on the 1D MA50. The rejection on the R1 Zone, is technically the Head of the Head and Shoulders pattern, a bearish formation seen on market peaks. This rebound is forming the Right Shoulder. With the 1D RSI on Higher Lows for the whole year, we can't ignore the possibility of a fake Head and Shoulders formation, so the level which invalidates this is the LS overhead Resistance at 85.940. Under this, we will target the 0.236 Fibonacci level (TP = 81.550), which is a standard target for the price after rejections on the R1 Zone since April 2022. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
Outlook on NZDJPY: Bearish play seenHi everyone, NZDJPY remains under pressure and could see a further downside. On the daily time frame, prices are holding below a key resistance level at 77.350 in line with the daily descending trend line and 78.6% fibonacci retracement which could see prices extend its decline below this resistance level. On the H4 time frame, prices broke the ascending trend line and a pullback to test our resistance at 77.048 presents an opportunity to enter a short.
Short
by Salzworth
1