NZDJPY potential for short pullback! | 11 Oct 2021
NZDJPY has the potential for a short-term pullback. We see a potential entry at our Pivot at 78.117 in line with 127.2% Fibonacci projection towards our target Take Profit at 77.792 in line with 23.6% and 61.8% Fibonacci retracement. Stochastics are at a level where pullbacks have taken place previously. Alternatively, our stop loss is placed at 78.282 in line with 161.8% Fibonacci projection.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concern
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