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Nzd-jpy

💡Don't miss the great sell opportunity in NZDJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (82.24). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . NZDJPY is in a downtrend, and the continuation of the downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 31. Take Profits: TP1= @ 81.21 TP2= @ 80.54 TP3= @ 79.86 TP4= @ 79.00 TP5= @ 78.28 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity
5
💡Don't miss the great sell opportunity in NZDJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (82.24). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . NZDJPY is in a downtrend, and the continuation of the downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 31. Take Profits: TP1= @ 81.21 TP2= @ 80.54 TP3= @ 79.86 TP4= @ 79.00 TP5= @ 78.28 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_World
11
NZDJPY potential for pullback! | 18 Oct 2021Price is consolidating in channel. We see the potential for a pullback at 80.866 in line with the top of our ascending channel towards our Take Profit at 78.974 in line with 50% Fibonacci retracement. Stochastics are at a level where pullbacks previously occurred. 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 concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
NZD JPY - FUNDAMENTAL DRIVERSNZD FUNDAMENTAL BIAS: BULLISH 1. The Monetary Policy outlook for the RBNZ At their October meeting, the RBNZ delivered on market expectations and raised the OCR by 25-basis points to an OCR of 0.50%. As the 25- basis point hike was already fully priced in, the fact that the bank did not provide any new additional information saw a textbook buy-therumour-sell-the-fact price reaction with the NZD pushing lower. As has recently been the case with most central bank commentary, there was additional focus on the RBNZ expecting that headline CPI inflation to increase above 4 percent in the near term, but the most important part of that part of the statement was the subsequent comment that the bank still sees CPI returning towards the 2 percent midpoint over the medium term. Furthermore, the most important take away from the RBNZ statement for us was that ‘the current COVID-19-related restrictions have not materially changed the medium-term outlook for inflation and employment since the August Statement’. Thus, despite recent covid concerns, inflation concerns and energy concerns, that part of the statement acknowledged that nothing has changed in terms of the bank’s OCR projections released at the August meeting. Unsurprisingly, the bank also stated that their future rate path is contingent on the mediumterm outlook for inflation and employment, which means keeping close tabs on incoming data and the virus situation will remain a key focus for us in the weeks and months ahead. With the bank now being the first to hike rates among the major central banks and sitting on the highest cash rate among the majors, and with an OCR projection that is still head and shoulders above the rest, the bias for the NZD remains firmly titled to the upside as the bank remains the most hawkish among the major central banks. As interest rates keeps rising, we think the currency’s carry attractiveness will be a key focus point for the NZD in the months ahead. 2. Developments surrounding the global risk outlook. As a high-beta currency, the NZD benefited from the market's improving risk outlook coming out of the pandemic as participants moved out of safe-havens. As a pro-cyclical currency, the NZD enjoyed upside alongside other cyclical assets supported by reflation and post-recession recovery best. If expectations for the global economy remains positive the overall positive outlook for risk sentiment should be supportive for the NZD in the med-term, but recent short-term jitters are a timely reminder that risk sentiment is also a very important short-term driver. 3. Economic and health developments So far, the virus situation in New Zealand has been a flash in the pan worry. The government has been able to trace the source of the recent outbreak and should be able to keep the situation under control. Any further escalation though will be important to watch. 4. CFTC Analysis Latest CFTC data showed a positioning change of +692 with a net non-commercial position of +8748. The NZD reflects net-long positioning for both large speculators as well as leveraged funds but are nowhere near stress levels right now. With the NZD now sitting on the highest cash rate among the major economies and with expectations of that to continue to rise we think carry attractiveness will become a key focus point for the NZD in the months ahead and should mean a favourable upside bias for the NZD against the low yielders like JPY and CHF. JPY FUNDAMENTAL BIAS: BEARISH 1. Safe-haven status and overall risk outlook As a safe-haven currency, the market's risk outlook is the primary driver of JPY. Economic data rarely proves market moving; and although monetary policy expectations can prove highly market-moving in the short-term, safe-haven flows are typically the more dominant factor. The market's overall risk tone has improved considerably following the pandemic with good news about successful vaccinations, and ongoing monetary and fiscal policy support paved the way for markets to expect a robust global economic recovery. Of course, there remains many uncertainties and many countries are continuing to fight virus waves, but as a whole the outlook has kept on improving over the past couple of months, which would expect safe-haven demand to diminish and result in a bearish outlook for the JPY. 2. Low-yielding currency with inverse correlation to US10Y As a low yielding currency, the JPY usually shares an inverse correlation to strong moves in yield differentials, more specifically in strong moves in US10Y . However, like most correlations, the strength of the inverse correlation between the JPY and US10Y is not perfect and will ebb and flow depending on the type of market environment from a risk and cycle point of view. The rangebound price action in US10Y from July saw our conviction for more upside in USDJPY take a knock, and we have been waiting for US10Y to make a more sustainable break before we look to add longs in USDJPY . This week, we finally saw US10Y being able to clear the key 1.38% level that has acted as strong resistance since July. Thus, as long as US10Y manages to stay above 1.38% we would look for pull backs in USDJPY to look for med-term buy opportunities. However, since 1.38% was such a key level, any break and close below 1.38% for the US10Y would be an automatic trigger to reduce any exposure. 3. CFTC Analysis Latest CFTC data showed a positioning change of -12940 with a net non-commercial position of -76634. The past few days of price action in the JPY was mostly driven by the excessive moves we saw in yields on the US side, with US10Y continuing to grind higher, but was also exacerbated by risk on flows as well as rising oil prices which is a negative driver for Japan for its terms of trade. Even though the bias for the JPY remains firmly tilted to the downside, the move is looking stretched, and with both large speculators and leveraged funds firmly in netshort territory the odds of some mean reversion has increased, and we would prefer waiting for some of the froth to mean revert before looking for new JPY shorts. As always, any major risk off flows can still support the JPY, especially with quite a sizable net-short position still built up in the currency for large speculators as well as leveraged funds.
by thunderpips
1
NZDJPY potential for short pullback! | 13th Oct 2021NZDJPY is on a bullish momentum. We see the potential for a short pullback and an entry at 79.052 in line with 161.8% Fibonacci extension and 50% Fibonacci retracement towards our take profit at 78.169 in line with 38.2% Fibonacci retracement and ascending trendline support. Stochastics is at a level where dips occurred previously. 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 concerning the foregoing Information, which can be accessed on the website.
Short
by FXCM
2
NZDJPY potential for short pullback! | 13th Oct 2021NZDJPY is on a bullish momentum. We see the potential for a short pullback and an entry at 79.052 in line with 161.8% Fibonacci extension and 50% Fibonacci retracement towards our take profit at 78.169 in line with 38.2% Fibonacci retracement and ascending trendline support. Stochastics is at a level where dips occurred previously. 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 concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
NZDJPY potential for short pullback! | 13th Oct 2021NZDJPY is on a bullish momentum. We see the potential for a short pullback and an entry at 78.620 in line with 23.6% and 50% Fibonacci retracement towards our take profit at 77.941 in line with 50% and 100% Fibonacci retracement and ascending trendline support. Stochastics is at a level where dips occurred previously. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
NZD JPY - FUNDAMENTAL DRIVERSNZD FUNDAMENTAL BIAS: BULLISH 1. The Monetary Policy outlook for the RBNZ At their October meeting, the RBNZ delivered on market expectations and raised the OCR by 25-basis points to an OCR of 0.50%. As the 25- basis point hike was already fully priced in, the fact that the bank did not provide any new additional information saw a textbook buy-therumour-sell-the-fact price reaction with the NZD pushing lower. As has recently been the case with most central bank commentary, there was additional focus on the RBNZ expecting that headline CPI inflation to increase above 4 percent in the near term, but the most important part of that part of the statement was the subsequent comment that the bank still sees CPI returning towards the 2 percent midpoint over the medium term. Furthermore, the most important take away from the RBNZ statement for us was that ‘the current COVID-19-related restrictions have not materially changed the medium-term outlook for inflation and employment since the August Statement’. Thus, despite recent covid concerns, inflation concerns and energy concerns, that part of the statement acknowledged that nothing has changed in terms of the bank’s OCR projections released at the August meeting. Unsurprisingly, the bank also stated that their future rate path is contingent on the mediumterm outlook for inflation and employment, which means keeping close tabs on incoming data and the virus situation will remain a key focus for us in the weeks and months ahead. With the bank now being the first to hike rates among the major central banks and sitting on the highest cash rate among the majors, and with an OCR projection that is still head and shoulders above the rest, the bias for the NZD remains firmly titled to the upside as the bank remains the most hawkish among the major central banks. As interest rates keeps rising, we think the currency’s carry attractiveness will be a key focus point for the NZD in the months ahead. 2. Developments surrounding the global risk outlook. As a high-beta currency, the NZD benefited from the market's improving risk outlook coming out of the pandemic as participants moved out of safe-havens. As a pro-cyclical currency, the NZD enjoyed upside alongside other cyclical assets supported by reflation and post-recession recovery best. If expectations for the global economy remains positive the overall positive outlook for risk sentiment should be supportive for the NZD in the med-term , but recent short-term jitters are a timely reminder that risk sentiment is also a very important short-term driver. 3. The country’s economic and health developments So far, the virus situation in New Zealand has been a flash in the pan worry. The government has been able to trace the source of the recent outbreak and should be able to keep the situation under control. Any further escalation though will be important to watch. 4. CFTC Analysis Latest CFTC data showed a positioning change of -2190 with a net non-commercial position of +8052. The flush lower in the NZD after the RBNZ was in line with our expectations as the bar for a hawkish surprise was quite high going into the meeting. However, after the buy-the-rumour- sell-the-fact reaction and subsequent flush lower, the NZD is back at some very attractive med-term levels, especially versus the low-yielding currencies like the JPY and the CHF, thus we like the odds of looking for med-term allocations to the upside in the NZDJPY and NZDCHF . JPY FUNDAMENTAL BIAS: BEARISH 1. Safe-haven status and overall risk outlook As a safe-haven currency, the market's risk outlook is the primary driver of JPY. Economic data rarely proves market moving; and although monetary policy expectations can prove highly market-moving in the short-term, safe-haven flows are typically the more dominant factor. The market's overall risk tone has improved considerably following the pandemic with good news about successful vaccinations, and ongoing monetary and fiscal policy support paved the way for markets to expect a robust global economic recovery. Of course, there remains many uncertainties and many countries are continuing to fight virus waves, but as a whole the outlook has kept on improving over the past couple of months, which would expect safe-haven demand to diminish and result in a bearish outlook for the JPY. 2. Low-yielding currency with inverse correlation to US10Y As a low yielding currency, the JPY usually shares an inverse correlation to strong moves in yield differentials, more specifically in strong moves in US10Y . However, like most correlations, the strength of the inverse correlation between the JPY and US10Y is not perfect and will ebb and flow depending on the type of market environment from a risk and cycle point of view. The rangebound price action in US10Y from July saw our conviction for more upside in USDJPY take a knock, and we have been waiting for US10Y to make a more sustainable break before we look to add longs in USDJPY . This week, we finally saw US10Y being able to clear the key 1.38% level that has acted as strong resistance since July. Thus, as long as US10Y manages to stay above 1.38% we would look for pull backs in USDJPY to look for med-term buy opportunities. However, since 1.38% was such a key level, any break and close below 1.38% for the US10Y would be an automatic trigger to reduce any exposure. 3. CFTC Analysis Latest CFTC data showed a positioning change of +1066 with a net non-commercial position of -63694. The past few days of price action in the JPY was mostly driven by the excessive moves we saw in yields on the US side, with US10Y continuing to grind higher despite a softer US jobs report as inflation fears saw additional downside for bonds across the board. The inverse correlation to US10Y saw massive downside versus for the JPY this week ahead. As always, any major risk off flows can still support the JPY, especially with quite a sizable net-short position still built up in the currency for large speculators as well as leveraged funds.
by thunderpips
NZDJPY 370 PIP SHORT!Hello traders, today we have ourselves a lovely NZDJPY short. This trade idea has a lovely return of 370 pips and a R:R of 12.33! This pair is one of my favourite pairs to trade especially JPY as most of those ideas tend to play out. Check out the results of my other JPY ideas below! We had a major trendline touch last month and we entered where highlighted by peppa pig, however this updated idea has many factors to support it. Confluences Fibonacci Level Minor trendline touch Structure Level - Clear rejection Check out my educational content below! Please like and comment your thoughts, thanks.
Short
by Pips-Collector
1
NZD approaching pivot , potential for bounce! | 7th OctPrice is currently trading in a symmetrical triangle and is heading our sell entry price of 77.61 which is also the resistance of the symmetrical triangle. Subsequently price may have a reaction off and dip towards the take profit level of 76.832. Our bearish bias is further supported by our EMA where price is trading under it. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
NZD JPY - FUNDAMENTAL DRIVERSNZD FUNDAMENTAL BIAS: BULLISH 1. The Monetary Policy outlook for the RBNZ New Zealand’s Zero Covid strategy caused quite the rigmarole for the NZD before the RBNZ’s last meeting as market participants were forced to unwind aggressive expectations for rate hikes going into the meeting. The unwind was so aggressive that OIS prices dropped from a 100% chance of a hike at that meeting to just above 50% going into it. The RBNZ surprised by leaving rates unchanged, but offered an optimistic ton compared to their prior meetings. They projected 7 hikes between Q4 2021 and H1 2023 (bringing the OCR to 2.0%). This was much more aggressive than what markets were expecting. Governor Orr later explained that they cannot wait for uncertainty to move on policy as they have a lot of work to do to get back to the neutral rate of 2.0%. When asked about Oct, the Governor said the meeting is live. Thus, with the upgraded rate path the med-term bullish outlook remains intact for the NZD. A week after their meeting we also had very hawkish comments from RBNZ’s Hawkesby who stated that the bank’s decision not to hike rates was mostly about optics and not due to risks, and also explained that the bank contemplated hiking rates by 50 basis points. This just confirmed the bank’s hawkish pivot and places them miles ahead any other major central banks. The announcement two weeks ago about the RBNZ moving forward with tightening LVR restrictions to curb speculation in the housing market was interesting from a timing point of view. Usually, these type of macroprudential policies takes pressure of the central bank to reign in speculation with higher rates. The announcement has already seen some repricing for October with markets now pricing in a 25-basis point hike instead of a 50-basis point hike for this week’s upcoming meeting on Wednesday. 2. Developments surrounding the global risk outlook. As a high-beta currency, the NZD benefited from the market's improving risk outlook coming out of the pandemic as participants moved out of safe-havens. As a pro-cyclical currency, the AUD enjoyed upside alongside other cyclical assets supported by reflation and post-recession recovery best. If expectations for the global economy remains positive the overall positive outlook for risk sentiment should be supportive for the AUD in the med-term , but recent short-term jitters are a timely reminder that risk sentiment is also a very important short-term driver. 3. The country’s economic and health developments So far, the virus situation in New Zealand has been a flash in the pan worry. The government has been able to trace the source of the recent outbreak and should be able to keep the situation under control. Any further escalation though will be important to watch. 4. CFTC Analysis Latest CFTC data showed a positioning change of +2144 with a net non-commercial position of +10246. This week saw some decent unwind in net-long positions for leveraged funds (fast money) which can also explain some of the oversized downside in the NZD during the past week. With the overall optimistic rate path from the RBNZ, the bias for the currency remains unchanged, and with small net-long positioning the current spot levels for the NZD still looks attractive for med-term buyers but waiting for the RBNZ is a prudent move. JPY FUNDAMENTAL BIAS: BEARISH 1. Safe-haven status and overall risk outlook As a safe-haven currency, the market's risk outlook is the primary driver of JPY. Economic data rarely proves market moving; and although monetary policy expectations can prove highly market-moving in the short-term, safe-haven flows are typically the more dominant factor. The market's overall risk tone has improved considerably following the pandemic with good news about successful vaccinations, and ongoing monetary and fiscal policy support paved the way for markets to expect a robust global economic recovery. Of course, there remains many uncertainties and many countries are continuing to fight virus waves, but as a whole the outlook has kept on improving over the past couple of months, which would expect safe-haven demand to diminish and result in a bearish outlook for the JPY. 2. Low-yielding currency with inverse correlation to US10Y As a low yielding currency, the JPY usually shares an inverse correlation to strong moves in yield differentials, more specifically in strong moves in US10Y. However, like most correlations, the strength of the inverse correlation between the JPY and US10Y is not perfect and will ebb and flow depending on the type of market environment from a risk and cycle point of view. The rangebound price action in US10Y from July saw our conviction for more upside in USDJPY take a knock, and we have been waiting for US10Y to make a more sustainable break before we look to add longs in USDJPY. This week, we finally saw US10Y being able to clear the key 1.38% level that has acted as strong resistance since July. Thus, as long as US10Y manages to stay above 1.38% we would look for pull backs in USDJPY to look for med-term buy opportunities. However, since 1.38% was such a key level, any break and close below 1.38% for the US10Y would be an automatic trigger to reduce any exposure. 3. CFTC Analysis Latest CFTC data showed a positioning change of -8689 with a net non-commercial position of -64760. The past few days of price action in the JPY was mostly driven by the excessive moves we saw in yields on the US side, with US10Y climbing 20 basis points (that’s a lot for the bond market by the way) in a very short space of time. The inverse correlation to US10Y saw massive downside versus the USD at the start of the week, and then as yields cooled off and risk sentiment started to sour towards the end of the week, we saw some mild reprieve coming back for the JPY. For now, the bias remains firmly titled to the downside in the med-term, but as always, any major risk off flows can support the JPY, especially with quite a sizable net-short position still built up in the currency. It’s not only large speculators but also leveraged funds that are net-short the JPY, so expect any major risk off flows to favour the JPY, unless that risk off flow is driven by strong moves higher in US10Y of course so just keep that in mind.
by thunderpips
1
NZDJPY is on bearish momentum | 1st Oct 2021Price level recently broke the ascending trend line of 76.750 and can potentially head to our profit level of 76.186 which is in line with our Fibonacci Retracement level of 61.8% and Fibonacci extension level of 88%. Our bearish bias is further supported by the Ichimoku Cloud indicator which clearly support our bias 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 concerning the foregoing Information, which can be accessed on the website.
Short
by FXCM
3
NZDJPY is on Bullish Momentum | 30thSeptPrice is currently trading in a ascending trend line . Price recently touch the support of the ascending tend line which is in line with a Fibonacci Retracement level of 78.6% and Fibonacci extension level of 61.8%. It can potentially move to the take profit level of 78.16 which is in line with Fibonacci extension level of 200%. Our bullish bias is further supported by stochastic which is currently at support level . 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 concerning the foregoing Information, which can be accessed on the website.
Long
by FXCM
1
Outlook on NZDJPY: Bearish play seenPrices are facing bearish pressure from the resistance zone at 77.20 which lines up with the 38.2% fibonacci retracement and 78.6% fibonacci extension. A pullback to test this resistance area presents an opportunity to play the drop to the next support target at 76.50 area. That said, we do caution current H1 support level that prices are testing at 76.80 and a break below this level is needed to provide the bearish confirmation for a further drop.
Short
by Salzworth
NZDJPY facing bearish pressure, drop incoming!USDCHF is holding below 1st resistance at 77.732 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension and may bearish towards 1st support at 76.780 in line 61.8 Fibonacci retracement and 61.8% Fibonacci extension. Our bearish is further supported by how price is holding below the EMA and RSI is showing a negative bearish divergence. Otherwise price may bullish towards 2nd resistance at 78.151 in line with 78.6% Fibonacci retracement and 100% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by TradeGATEHub