Symbol: NZD.JPY - New Zealand Dollar / Japanese Yen
Timeframe: Daily, 4-hour, and 1-hour
Predicted Direction: Long
NZD.JPY - New Zealand Dollar / Japanese Yen updates will be available in the comments section below as price-action develops.
Price is back to the resistance zone.
Looking to see if 72.5 zone can hold the price.
If it does, more downside. Otherwise it could go up higher
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading in securities markets...
JPY index is approaching its resistance at 0.147(61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.145(61.8% Fibonacci extension ,38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance where a corresponding...
NZD has been really strong lately but it's starting to show signs of fatigue. The assenting channel near structure gives me the indication we will likely see a break down. Not to say a news event won't blow things up but the chart reads weak.
Price is currently confined in a descending channel or wedge on the weekly charts with multiple tests occurring on both sides of the channel making it more and more potent if a breakout occurs!
The blue lines on the main charts represent the support and resistance levels drawn from the monthly charts and as of few weeks ago the 75.000 level was respected and now...
NZDJPY is at the top and struggling for more upside dont miss this fall.
How you can trade on this chart.
1. Watch top and look for sell before price fall and add more on Corrections.
2. Wait for the price to fall and look for sell on Correction.
BIG MONEY AHEAD
NZDJPY has made our target 2 hit with 160 pips.
This is an old trade open on 1st May.
We short it basically on the bear bowl top which has a broken trend line .
And we expected a 5th(4-5) wave down which made our target hit.
You cant open a new trade to sell it now because it looks pretty easy for a correction and more drop could come after that if this would be...