NZDJPY (1H) - short term bullish bias
The New Zealand dollar bounced off the 30-day moving average around the psychological level of 72.00. The strong momentum indicates rising interest in the kiwi after it broke above 73.00. On the hourly chart, the pair has been climbing along the moving averages. The RSI fell back from the over-bought area, suggesting that...
. There is still a possibility of temporary retracement to suggested resistance line (72.65). 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 above the 21-Day WEMA which acts as a dynamic...
NZDJPY (1H) - short term bearish bias
The break above the July high of 73.20 drove the pair into the RSI's over-bought territory. We would expect the New Zealand dollar to make its way down as buyers started to take profit. On the hourly chart, the drop below the psychological level of 73.00 has put increased pressure on the kiwi. As the moving averages start to...
Buy at 72.65
The medium term bias remains bullish
The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing
Bespoke support is located at 72.65
Further upside is expected although we prefer to buy into dips close to the 72.65 level
Expect trading to remain mixed and volatile
I did mention in the EURJPY setup previously, that the end of December to beginning of January are often found as volatile periods for many currency pairs, forming their high or low for the following year. It is statistically over 70%. I am going to look here at a NZDJPY short, sticking to the same JPY bias I had in my and EURJPY setup. The main confluences here...
Sell FX:NZDJPY on the breakout!
Indicators: Bearish candlestick close,
Wait to break the support, to short it further down.
R:R = 3.04
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Here we can see a 3rd touch of our trend line as resistance which indicates that price will bounce and make a...
Another decent setup. Price action is at a major level and we have nice bearish engulfing candle printed on the 4h chart which suggest either a decent pullback or trend reversal. I have gone short and marked the tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
I SEE A SELL OPPORTUNITY ON NZDJPY. PRICE IS CURRENTLY AT A WELL RESPECTED WEEKLY/DAILY TRENDLINE, TREND IS A CLEAR DOWNTREND AND I CAN'T SEE ANY REASON AS TO WHY IT WON'T CONTINUE. AS THEY SAY THE TREND IS YOUR FRIEND. COULD ENTER NOW FOR A RISKY ENTRY BUT AS ALWAYS I LIKE TO GET PRICE ACTION CONFIRMATION BEFORE ENTRY. GOOD LUCK!
Aveiq Capital Management Group
22nd November 2019
The instrument has been a overall downtrend for most the year. We have seen NZDJPY bottom out to the monthly 67.00 zone, before making a order collection towards the 70.00 liquidity zone. Multiple retests have been made in this area, giving us extra confluence that this should make a new more down giving the bears...