Long Setup on RetracementLooking for a pullback to retest the respectable ascending trendline in confluence to the 0.618 fib retracement and previous area of support within the hourly structure.
Nzdjpylong
NZD/JPY Technical Analysis
The zone of 71.100-200 proves to be a tough nut for the pair.
Despite multiple attempts, the price is unable to break above it.
Further, the price action has formed an evening action star pattern at the resistance zone.
Hence, we expect the pair to be bearish in the near-term.
NZDJPY, 4hr tf, buy above the kumo as long legged doji appearsHello my friends,
Today another setup on JPY pairs. This time it is NZDJPY.
I found a good buy setup for this pair as there are some confirmations appeared which consist of:
1. Parabolic SAR now below the price indicating buying pressure
2. Price above the kumo cloud
3. Kumo cloud is green colored
4. Long legged doji which is a price action confirmation
Buy NZDJPY 71.15
Stop loss 70.80
Take profit 1 @71.50
Take profit 2 @71.85
Take profit 3 @72.20
RR ratio is 1 : 3
Use only 1-2% risk
Good luck
Disclaimer : I bought NZDJPY at 71.15 as per this writing
NZDJPY LONG until next weekI will go long on NZDJPY because it just bounced on the support zone. It is safe now to go long on NZDJPY.
This is the best time to buy NZDJPY for next week bullish move. I think it will go up next week.
Trade At Your Own Risk ;)
NZDJPY TO 71.600Here is a possible long for NZDJPY. This trade can be taken once price closes above 70.850 on the 4hr timeframe.
NZDJPY - Looks JuicyI expect another bearish move to continue the trend. Once we break out of this small bearish flag formation we can expect an aggressive sell-off into the 68 region. If price wants to continue rising we will have a bias change and look for buys into the 70 region after re-testing the structure marked.
According to COT Data Source, 57% are short.
NZD/JPY Wave Analysis
The counter is currently formed a flat ABC corrective wave.
It broke out from a bear flag pattern, tested the broken support, and is now coming down with strong momentum.
Hence, we expect the pair to be bearish in the near-term.
NZDJPY long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
NZD/JPY Technical Analysis.Currently, NZD/JPY is trading at 70.11. The pair is consolidating in the resistance and support wedges. The pair may start a new uptrend, if it breaks the resistance level at 70.43, likely the pair might consolidate further for some time. If the pair starts a new uptrend after breaking the resistance level, then its first target price will be at 71.61 and the second target price will be at 72.33.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat
NZDJPY - Multi Time Frame AnalysisThis pair is rejecting the key level of 70.500 on the weekly time frame indicating potential failure to break higher. The last weekly candle closure may suggest the bears are ready to drive the price down. The previous daily candle closure was a bearish engulfing candle suggesting that price may want to start selling off on this pair. On the 4-hour time frame, we are seeing signs of a head and shoulders pattern forming again indicating that if we manage to break this we will see an aggressive sell-off. After breaking out of the ascending trend line on the hourly time frame we are now interested in looking for a sell position confirmation, If we don’t get that and price breaks above the key level of 70.0 we will look to buy into the 70.5 region.
67.7% of commercial players are short according to our COT Data source.
NZD/JPY Technical Analysis.Currently, NZD/JPY is trading at 70.24. The pair is consolidating in the ascending triangle resistance and support wedges. The pair may start a new up trend if it breaks the resistance level at 70.43 and it is possible that the pair may continue its consolidation between resistance and support wedges. If the pair starts a new up trend after breaking the resistance level, then its first target price will be at 71.16 and the second target price will be at 71.61.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and ideas.
Thank you,
Rishikesh Lilawat
Best Entry Point For NZDJPYNZD - BULLISH
1️⃣ The unemployment rate handily beat the 5.6% forecast coming in at 4.0% and helped to push kiwi to trade well.
2️⃣ Risk-on market sentiment after top Democrats and negotiators from the White House say a deal on a coronavirus stimulus package could be reached by the end of the week and approved as early as the following week.
JPY - BEARISH
1️⃣ The Japanese government plans to decide at a cabinet meeting on Friday to use over 1 trillion Yen from its reserves for responding to the COVID-19 epidemic, after added 1,200 new cases on Tuesday.
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Technical
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📊 We're looking to long NZDJPY on RBS level + SMA50 area.
📊 NZDJPY in bullish zone.
NZDJPYGutted I did not take the AUDJPY trade I called last week...been very busy so not much chance to trade!.
This is what I am looking at for NZDJPY!
I will not be breaking down my charts or be giving in depth reasoning into why I have a bias on a trade. I feel this encourages people to take trades all over the place hoping one will come through because it sounds right! Trust in the process.
Never look to my trades for a signal...I'm not responsible for any of the trades you take.
Have a blessed Sunday!
Golden cross just startedI just opened my operation, upwards.
We can see a gold cross forming and that means bull market
If by tomorrow the price goes up like a rocket I'll leave the operation open for 2 days.
If tomorrow you only have a small increase I'll close the operation.
