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glennmercer

NZDJPY Wave Count: Technical + Fundamental Analysis

Short
New Zealand Dollar / Japanese Yen (FX:NZDJPY)  
glennmercer Updated   
FX:NZDJPY   New Zealand Dollar / Japanese Yen
Fundamental Analysis inauguration NZDJPY riskoff Elliott Wave wavecount EW glennmercer gmercerfx
20
4
fundamental inauguration nzdjpy riskoff elliottwaves wavecount ew glennmercer gmercerfx
After this bearish impulse, it is likely that if the entry level is taken out we may see further downside. The EW count suggests the same. Also, with the inauguration occurring today, there is a possibility for a "risk off" economic environment to take the reigns which would mean a drop in riskier currencies like the kiwi and a rise in the safer yen. Cheers
Trade active:
Active, Trump speech has sparked risk-off environment thus far. Cheers
Comment:
Since this is a risk-off position and it is moving in my favor I am leaving it open over the weekend. Cheers all, have a great one!
Comment:
Trade moving steadily in favor of the short. +30 pips. SL Moved to B/E. Cheers
snapshot
Trade closed: target reached:
+46 Pips
snapshot
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