Don't miss the great buy opportunity in NZDJPY
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Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (75.2). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 75.88
TP2= @ 76.20
TP3= @ 76.65
SL= @ 74.73
. There is a possibility of temporary retracement to suggested support line (75.2). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 75.88
TP2= @ 76.20
TP3= @ 76.65
SL= @ 74.73
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fxniki
well, I find this TA very useful and really thanks for sharing it.
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ForecastCity
fxniki
@fxniki, Thanks for your comment.
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Captain_Walker
It'll be a nice call. I don't see a foundation for why 75.2 is where price may reach in probability - and then going long from there. How are your 'R' levels calculated or estimated?
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ForecastCity
Captain_Walker
@Captain_Walker, Thanks for your comment.
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Captain_Walker
ForecastCity
@ForecastCity, Many thanks for explaining it to me.
Reply
ForecastCity
Captain_Walker
@Captain_Walker, The answer to your question is so obvious in the chart. They have been chosen because of the support and resistance levels. And trading suggestions have been given according to the technical analysis.
Reply
Captain_Walker
ForecastCity
@ForecastCity, Cool mate.
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