swingtradingthemarkets
Short

NZDJPY Correction or Bounce to Day Chart Top

FX:NZDJPY   New Zealand Dollar / Japanese Yen
NZDJPY currently @89.28 with some late week resistance shown yesterday and Thursday at the 89.40-50 level. Now we are inside this wedge and waiting for the break to take the correction to the 88.70 level.

Trading the 60-min chart for our entries, we can see how we are inside a triangle and waiting for direction as well.

Going into next week, be ready to take shorts at will at the 89.40-455 with a STOP of 89.65-85 and TARGET of @89.00 and 88.70.

IMPORTANT DISCLAIMER:

These comments are for information purposes only. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Do not trade without proper research on the asset. This is an opinion ONLY – and not a trade call, but this analysis may lead you to a trade. The information contained on this document does not constitute a solicitation to buy or sell an asset by FOREXTRADINGZONES.COM.

DO NOT TRADE WITHOUT STOPS

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