Lastly, we have the NZD/JPY. This pair is pushing higher above the 13&50EMA but is about to run into a Daily Resistance Zone (Green). This is an area that I think we could see a nice counter-trend bounce out of the NZDJPY. So, for that reason, I will be looking in this area for potential short trades.
Daily Resistance Zone (67.640-68.150)
HZDJPY is holding very well at the daily 618 fib retracement, if we are able to break out of this ascending trendline and close below previous support, I would be highly interested in a sell from the re-test of the structure down to the key level. This will only be traded if we get the correct confirmation and an acceptable risk to reward ratio.
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NZDJPY is Bearish - We look to Sell at 66.08
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ Price action continued to range between key support & resistance (66.16 - 63.46) and we expect this to continue.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 66.08, resulting in...
NZDJPY is Bearish - We look to Sell at 65.40
▪️ Trading within a Bearish Channel formation.
▪️ We have a 78.6% Fibonacci pullback level of 65.29 from 65.79 to 63.46.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 65.40,...
. There is a possibility of temporary retracement to suggested support line (64.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
Hello Guys, I hope you took the US30 :) but NZDJPY I m seeing
- Price to take liquidity on the bottom side and move the price up
- fill the market gap on top and then price to move down(after my tp is hit).
- there is 0.5 fib which is likely to hold so where also we might see reversal of the trend but that gonna be very long time. If that happens.
. There is still a possibility of temporary retracement to suggested resistance line (65.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...