MAJOR REVERSAL THIS YEAR IN NZDJPY
Update: July 14 - Stop placement is completely wrong. Should either be at 93.10 or 85.55. Will adjust that..
New Zealand has reached a major (at least temporary) top against the Japanese Yen in January of 2015. I will keep a close eye on this one and start going short between now and 86.XX - 87.00. I believe my target will be reached (at least target 1) by mid July. Time is a critical component for this trade. If target 2 is reached after the 4th quarter of 2015, there is a high probability NZDJPY heads toward 68.XX.
Sometimes the eye is trained to see the critical levels clearer as price moves higher. Flipping NZDJPY to JPYNZD shows a clear initial target at the top of the channel. The price is 79.65
New Zealand has reached a major (at least temporary) top against the Japanese Yen in January of 2015. I will keep a close eye on this one and start going short between now and 86.XX - 87.00. I believe my target will be reached (at least target 1) by mid July. Time is a critical component for this trade. If target 2 is reached after the 4th quarter of 2015, there is a high probability NZDJPY heads toward 68.XX.
Sometimes the eye is trained to see the critical levels clearer as price moves higher. Flipping NZDJPY to JPYNZD shows a clear initial target at the top of the channel. The price is 79.65
Note
What a beautiful buy this has turned into
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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.