NZDJPY Short Trade *TRENDLINE BREAK & STRONG DAILY RESISTANCE*
NZDJPY has shown signs of a reversal at this level for a while now. The daily resistance zone @ 76.500 is holding strong and we finally have a break of the 1hr bullish trendline with a lower low being made.
Price has now pulled back a little and is rejecting the 1hr 50ema from below. Price is also below the daily pivot level so that is a another potential resistance to keep price down.
Stop loss is above the daily resistance and 1hr Fib 0.618 level.
Profit Target is at the next support zone around 75.050
Price has now pulled back a little and is rejecting the 1hr 50ema from below. Price is also below the daily pivot level so that is a another potential resistance to keep price down.
Stop loss is above the daily resistance and 1hr Fib 0.618 level.
Profit Target is at the next support zone around 75.050
Trade active
1hr 50ema is holding strong as a dynamic resistanceNote
Price now at daily pivot level, watching this to see if it holds :)Trade closed: stop reached
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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.