NZDJPY - Buy Setup
Technical: The overall trend remains bearish, but the price has stalled just below the major 83.06 support level, last seen in August 2024. This could attract buying interest. On the daily chart, a bullish reversal formed on March 4, 2025, suggesting a potential short-term bottom.
Fundamental: The latest Commitment of Traders Report shows increasing New Zealand Dollar long interest, while Japanese Yen interest is declining. This indicates that "Smart Money" may be accumulating NZD.
Seasonal: Historically, between March 7 – April 13, NZD/JPY has performed well, producing positive returns 61.1% of the time, with an average gain of 1.47% over the past 36 years.
Setup:
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Technical: The overall trend remains bearish, but the price has stalled just below the major 83.06 support level, last seen in August 2024. This could attract buying interest. On the daily chart, a bullish reversal formed on March 4, 2025, suggesting a potential short-term bottom.
Fundamental: The latest Commitment of Traders Report shows increasing New Zealand Dollar long interest, while Japanese Yen interest is declining. This indicates that "Smart Money" may be accumulating NZD.
Seasonal: Historically, between March 7 – April 13, NZD/JPY has performed well, producing positive returns 61.1% of the time, with an average gain of 1.47% over the past 36 years.
Setup:
- Entry: 84.43 – 83.97
- Stop Loss: 82.83 (below the 2024 low at 83.06)
- Target: 87.80 (50% retracement)
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.