NZDJPY - Is The Bearish Run For The JPY Finally Over?
Updated
Analysis:
Bearish Confluences
Bullish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- In a downwards trend
- Retest of a key level
- Fakeout of downwards trendline
- 1K long position increase for the JPY
- 12K short position decrease for the JPY
Bullish Confluences
- NZD is the 5th strongest major currency whereas the JPY is the 8th strongest major currency
- 3K short position decrease for the NZD
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active
Price has met our entry criteria and our order has been filled. We are short on this pair expecting to see the JPY gain some strength which would bring price down on this pair.Trade closed: target reached
Trade Closed
(+1.67R) Made
After Trade Comments:
This was another trade that we were in that dropped straight to our take profit after the news release that came out for the NZD last night. The news came out slightly worse then expected which resulted in price making a move to the downside and hitting our take profit. Overall this was a pretty nice trade to catch with a decent RR. We also didn't go into that much drawdown before price headed straight to our take profit. With this trade closed let's look for the next one!
Stay Safe - The JPI Team
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.