Similar setup to EURNZD guys. After a decent rally this pair pulled back and reversed with a bullish candle. I have gone long on this and marked the tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
We can expect a potential rise for NZDJPY from here. Previous two sessions have been bearish - it has come towards the P level of 68.000. Previous day low has not been breached yet. As NY opens - we cna expect a bullish movement before Asia session begins
Following a decent impulse to the upside on the 60 and not a conflicting bias on from the daily as that is consolidating, I believe price can go higher if not to a retest of the highs too. Came into a minor level of support with fairly safe stop placement. A quick potential day trade which I am involved in.
Good buying position after breakout. if you look at weekly , last week a spinning top was created , usually spinning tops pave way for price reversal inverse head and shoulders on 4hrs breaking out of trend.. going back to weekly , this week we are seeing green positive indication for buying until preferred t.p
NZD/JPY - potential long opportunity. If the market retraced back down to the lower support level. A long (buy) opportunity will then become available. As you can see from the chart analysis. This currency pair has bounced off this support level, every time since 2009. this further supports a possible long entry.
If you would like to find out more about our...
NZDJPY WEEKLY on the left, we closed last week as bullish engulfing
H4 on the right, tapped off fib level + bullish engulfing candle, I expect to see a bullish move!
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past profits do not...
You don't need to be Einstein to see how strong of a level this is, but just in case you are brain dead we have pointed it out with lovely purple arrows ;p
This level has been used as strong resistance and now price is coming back down to test this as support, we can see a bounce and a bullish run coming, and we think it will be a very angry bull... so run for...