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Nzdjpyanalysis

NZDJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 50 - Dec 07 M > Market was moving in a downward channel, however it broke resistance to the upside last month. Price has tested monthly resistance. W > We can see W formations but their neck is in the channel that market will have to renter back by breaking its resistance, now as support. D > Market was making its fresh move in a rising channel but it broke out of that as well to have a false break out above monthly resistance but reversal can be seen with bearish engulfing candle. As per COT NZD further added few Long but closed Short bringing Long to the highest for the year and net positions to highest for the year, ZXY has gained strength since all of November and closed last week with rejection after testing June 2018 level as resistance. We can expect correction to the downside for NZD. JPY again saw addition of major Long and some Short positions improving net positions to highest in this year. JXY however weakened during the said period and was indecisive last week ending in a Doji. We can expect strengthening of JPY this week. With weak NZD and strong JPY drop of NZDJPY is a expected. 4H > Price dropped to create a LL and it is now making pull back for a LH, a drop will provide bearish confirmation with a nice Short entry. We will face few demand zones that may pause price on its way down. Pair Correlation > NZDJPY has positive correlation with NZDUSD, NZDCHF, AUDUSD, NZDCAD, GBPUSD and GBPJPY and negative correlation with GBPNZD and EURNZD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
NZDJPY Potential Sell SetupNZDJPY is slowing down in Bullish momentum after breaking past previous resistance. At this point there's potential that the market will pullback. We won't get our confirmation for weekly sells until the upcoming next week's candle closes below the this week's candle. Once that happens, we can look for shorts once we see a break of structure on H4 and aim to take profit at the 72.000 Zone, which was a previous Resistance zone. A close above this week's weekly candle will invalidate sells and signal there is still bullish momentum in this market.
Short
by Richie242
NZD/JPY could fly SOON!Hey tradomaniacs, NZD/JPY has formed an S/H/S-Pattern and could break above the Neck-Zone very soon. If we see a break above we see a confirmed trendchange with the previous break out of the Trendchannel. I`m watching this pair carefully as JPY-Weeakness seems to continue. Pre-conditions for long-trade would be overall a risk-on-sentiment in the stockmarket and so a weak US-DOLLAR. LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez
NZDJPY Break and retest cycle will it reach 2020 high ?NZDJPY ********* ⏳Day chart 🎲 Detailed analysis ⛳️Bullish entry —————-❇️——————- Detailed analysis 💬 1️⃣ Notable break and retest happens twice 2️⃣ 71.630 Multi month highs strong support 3️⃣ Positive risk sentiment, Vaccine news 4️⃣ 72.00 Dynamic support and resistance 5️⃣73.600 acted as strong resistance-Key trend reversal area 6️⃣ 70.110 50% Fibonacci will Acted as strong support/Point of control coincidence 7️⃣ Technical support - Bullish 8️⃣ 73.600 will acted as key reversal-bearish 9️⃣ 2020 High will act as alternative bearish entry-Double top formation 🔟 Possible swing target-73.600 #️⃣ Overall long-term trend- Bullish —————-❇️——————- 📉 Technical bias-Day-Bullish Price is above 50,100,200 Exponential moving average 50,100 Exponential moving average will act as support-Bullish Relative strength index - well above 60 - Bullish trend MACD -Histogram is slowly fading towards red, Oscillators about to cross soon Stochastic - Reached around 75- overbought condition will give a short term fall back expected Ichimoku cloud -cloud is still green-Price is well above the cloud Bollinger band- Price reached around the upper side of the band-Short term bearish correction towards middle band was expected —————-✳️——————- Key reversal area's 70.000 psychological level 70.110Point of control area Volume analysis 71.670 June,July,August month highs 69.000 Lower side of the recent consolidation phase 73.000 Major psychological level 73.660 Possible entry- Bear 73.660 Trendline resistance/Alternative Bearish entry —————-✳️——————- Bearish entry #yen #kiwi #nzdjpy Entry price - 72.150 Take profit 01 - 72.800 Take profit 02 - 73.600 🚫 Stop lose 71.200 ⬆️ 2.00 Growth expected ⤴️ Account growth 1: 2 ✅ Risk reward ratio 1 : 2 —————-⚜️——————- Push the like button , And cheer up if you found useful
Long
by forexorbit
2
NZDJPY Descending Triangle FormationNZDJPY is showing a descending triangle formation at a key area of resistance. When we zoom out to the weekly, we can see the previous weekly candle showed a rejection of this zone and the current weekly candle is showing low bullish momentum. This pair has more potential to breakout to the downside rather than the upside but the market can do whatever it wants. For sells i'll be looking for a break of support and a retest, for buys i'll look for a break and retest of resistance.
by Richie242
NZDJPY - Big short sell opportunity almost readyLike I said before i’m anticipating for a big bearish move on NJ when it reached the top of daily ascending channel. However, as I said, we must never take any short trade blindly but to wait for the market to give us any confirmation because the price reach this area in impulsive leg. After that, thir pair continue to move upside seems like breaking the ascending channel structure. However, I never changed my bias and still looking for a short sell entry. I’m already anticipating this kind of fake move because it’s a typical market nature to catch people on the wrong side. Now, that the price has broken back into the channel, the probabilty of this pair will go lower have become higher in my opinion. I will now just anticipating the price to form a corrective structure. In high probability area like this, even small corrective structure Any break from any bearish continuation pattern now will trigger my short sell entry with sl above the corrective structure with target up to the low of the descending channel and can even go lower depending on how the market reach that area. Massive reward available in front of us,. Lets see if we can capitalize it or not now... Good Luck
Short
by moa_trading_journal
1
NZDJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 45 - Nov 02 M > Market is moving in a downward channel, price tested resistance of channel and dropping after rejection. Price has already dropped till 0.382 Fib level on monthly bullish impulse. W > Price tested resistance level thrice and faced rejection creating triple top. We can see a W formation and expect price to drop and test its neck. However for last 4 months price is moving in a range of about 300 pips. D > As suggested last week price dropped to test weekly support and we can now see rejection wicks at support level. Price has formed a bullish flag and we can expect a reversal to the upside. As per COT NZD saw addition of both Long and Short improving net positions to max for the year, whereas ZXY gained strength during the said week but it weakened last week. JPY saw closure of Long and major Short positions improving net positions however N-R added major Long and few Short positions, improving cumulative net positions. Commercials have added both Long and Short positions, bringing their Short positions to highest in current year, in effect increasing total open interest in JPY. JXY improved its position during the said week and further improved it last week. NZD has been gaining strength slowly and we can expect move to the upside. However JPY being a safe heaven can strengthen on account of short term uncertainty due to Covid19 resurgence and US Elections, making price to drop. 4H > Price is currently facing rejection at support level, as evident from rejection wicks and we can also see bullish divergence. We will wait for price to break last support to the upside to enter Long. Break of support to the downside will invalidate this idea. Pair Correlation > NZDJPY has positive correlation with AUDUSD, AUDJPY and NZDUSD and negative correlation with EURAUD. Thank You AP17FX
Long
by AP17FX
1