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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 (78.80). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . NZDJPY is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 33. Take Profits: TP1= @ 78.35 TP2= @ 78.10 TP3= @ 77.90 TP4= @ 77.70 TP5= @ 77.35 SL: Break Above R3 ❤️ 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
12
💡Don't miss the great sell opportunity in NZDJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (78.80). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . NZDJPY is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 33. Take Profits: TP1= @ 78.35 TP2= @ 78.10 TP3= @ 77.90 TP4= @ 77.70 TP5= @ 77.35 SL: Break Above R3 ❤️ 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
6
COT CURRENCY REPORTAUD, NZD & CAD: A solid week for the CAD in terms of price action means the biggest increase in positioning among the majors should not be a surprise. The BOC’s hawkish tilt has put the CAD in pole position for the bullish currencies among the majors, and as long as policy normalization continues, and the data stays positive and Oil prices remain buoyed that should stay intact. The jobs data was a minor set back for the CAD on Friday, but a miss was largely expected due to the impact of the virus and should not be enough to change the med-term outlook for the BOC or the CAD. In terms of incoming events, the only noticeable one for AUD is the incoming Annual Budget Release, but apart from that main focus for the high betas should be overall risk appetite. JPY, CHF & USD: What a move in the Dollar after Friday’s NFP! Not surprising though as the med-term bias remains titled to the downside for the greenback as long as the Reflation and Global Synchronized Recovery driver stays intact. The more interesting development was the downside in the Dollar despite a solid push higher in US10Y. It’s important though to remember that even though yield differentials are important drivers for currencies they are not the only drivers. For the past couple of months, the correlation to real yields (nominal yields – inflation expectations) is another important driver alongside that of Eurodollar futures. On Friday, Eurodollar futures shot up and Real Yields shot down after the NFP jobs report, all in all a strong bearish cocktail for the Dollar despite US10Y moving up. This week the attention turns to CPI on Wednesday as well as Retail Sales on Friday. In terms of the CPI event, it will be important to keep the Real Yield dynamics for the Dollar in mind, as a strong CPI print might not necessarily translate into Dollar strength if inflation expectations outpace US10Y and pushes real yields lower. GBP: The move we’ve seen lower in CFTC positioning for the GBP is mostly as a result of the downside price action we saw at the end of last week which was most probably due to some de-risking going into this past week’s BOE and elections. The fundamental bias remains unchanged and tilted to the upside for Sterling. Even though the BOE did move along with tapering, it was framed as a technical adjustment, but the bank did provide a more upbeat outlook for the economy and the recovery. With the proximity risks out of the way we would anticipate the week ahead to see a continuation of the upward trajectory barring of course any negative surprises. EUR: Still the biggest net-long position among the majors. There are still issues surrounding the fundamental outlook for the single currency, but despite that the EUR has remained very well supported over the past few weeks as the Dollar has continued to lose favour. For now, it seems that a lot of participants are still banking on a potential or eventual EU recovery story from H2 as the vaccination roll out gain positive momentum. If the EU can reach some of the targets it has set itself then we could well see a faster recovery playing out in the EU. However, when we compare that potential recovery in terms of growth or inflation differentials or compare the policy response between the US and UK or compare policy normalization expectations it seems the EU is still lagging behind the US and the UK, which is why we are staying patient with our view on the EUR for now and waiting for more information on the vaccine and data front before we change our mind. *This report reflects the COT data updated until 4 May 2021.
by thunderpips
How to Catch a Trend? Deep Explanation on a Real SituationGood Morning traders! Interesting idea today regarding the NZD/JPY pair. This post is aimed to all the trend followers, since it implies a breakout of an interesting ceiling. This pair has been consolidating in the current retracement for more than two months, and we can already begin to see intentions of a breakout in the short term. Why do we say this? 🔸Since March 25, the minor trend is clearly bullish. This determines that there is an interesting demand, and it is possible that we will see a brekaout soon. The target of the potential movement is in the next Resistance zone, at 84,000. We determined this based on the analysis of the Weekly chart: 🔸Well, the above is just an analysis. The question is, how are we going to trade this movement? 🔸In the 4H chart we will plan the setup. It involves a corrective move in a throwback towards the broken zone, and then the corresponding momentum. It has a GREAT potential if it happens, since it can be a trade with a return greater than 4 or 5 times the risk assumed. Why are we trading this way? Because we are momentum traders and we look for trades that goes in the direction on the main trend. And how to catch a trend? This is a commonly asked question. As a breakout traders, we always look for clear impulses followed by corrective moves. After that, we will look for the new impulse in the direction of the main trend, using that corrective move to place our entry and stop loss level. Here are 5 examples of the last bullish trend: The first thing we will do is to position on the daily chart to show you all the corrections we saw on the chart. After that, we will decrease to the corresponding timeframe to be able to see the structure comfortably and detail how we would have traded it. We will use a very simple risk scheme, fixed 2: 1 R / R ratio in order to simplify the explanation. The entry point is at the breakout of the structure, and the stop loss below it.
Education
by ThinkingAntsOk
1
COT CURRENCY REPORTAUD, NZD & CAD: The latest CFTC data for the CAD was surprisingly low with the most recent update, especially after the data included the price action following the BOC’s hawkish tilt. However, what was not reflected in the data has been made up in good measure in the price action we saw this past week as the CAD’s fundamental realities kicked into high gear and pushed CAD higher. For the AUD and NZD, the week does hold some risk events to take note of such as quarterly Employment data for New Zealand as well as a press conference with Governor Orr after the release of the financial stability report. For the AUD, we also have the RBA meeting coming up on Tuesday where market participants are not expecting anything new from the bank. Furthermore, the increased volatility in equities over the past few days means that we do of course want to be mindful of any fluctuations in risk tones as they remain a key external driver for all three the high beta majors. JPY, CHF & USD: What to make of the Dollar on Friday? Firstly, technically speaking the currency was looking a bit stretched to the downside after having almost three straight weeks of selling. Secondly, the recovery in US 10-Year bond yields provided a welcome reprieve for the greenback. Thirdly, the more hawkish comments from FED’s Kaplan on Friday also spurred some upside for the Dollar by talks of tapering discussions and rates lifting off in 2022, but keep in mind that Kaplan is considered as a hawk so even though these comments are positive, they are not as positive when compared to coming from someone like Powell or Clarida for example. After a pretty impressive run higher for the JPY, the move higher in US 10-Year bond yields once again showed the strong inverse correlation between the two assets with the JPY pushing lower this week despite some risk off flows seen in equities (which is usually expected to be positive for safe havens). In the week ahead, focus for both the USD and JPY will remain firmly fixed on bond yields as well as the overall risk sentiment in the market. GBP: GBPUSD took quite the tumble on Friday as the Dollar gained some momentum, and also suffered against other major counterparts as well. The fundamental bullish outlook remains intact, and this week attention will turn to the BOE policy decision coming up on Thursday, as well as the UK’s local elections and Scottish Parliamentary elections. Between the elections and the BOE, the more important event will arguably be the BOE where there is a growing number of participants calling for a potential tapering announcement by the bank this week, but there is a few caveats to this which is important to keep in mind. EUR: Still the biggest net-long position among the majors. There are still issues surrounding the fundamental outlook for the single currency, but despite that the EUR has remained very well supported over the past few weeks as the Dollar has continued to lose favour. Friday did of course see some overdue correction playing out for the USD which saw a sizeable push lower in the majors across the board. As the fundamental outlook remains unchanged in our view, the Dollar’s movements will be very important for the single currency this week. For now, it seems that a lot of participants are still banking on a potential or eventual EU recovery story from H2 as the vaccination roll out gain positive momentum. If the EU can reach some of the targets it has set itself then we could well see a faster recovery playing out in the EU. However, when we compare that potential recovery in terms of growth or inflation differentials or compared that from a monetary policy normalization point of view, it will still be far behind that of the US and the UK, which is why we are staying patient with our view on the EUR for now, waiting for more information before we change our mind. *This report reflects the COT data updated until 27 April 2021.
by thunderpips
NZDJPY a turn at the 0.618 🦐NZDJPY after the impulse until the upper trendline of a descending channel started a grind over it. The price retraced at the 0.618 Fibonacci level over a support. According to Plancton's strategy if the market will break above we will set a nice long order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
8
COT CURRENCY REPORTAUD, NZD & CAD: Positioning data for the AUD, NZD and CAD updated until the 13th of April still shows more room to run to the upside for the three high beta commodity-sensitive FX majors, even after the recent push higher in the likes of the NZD and AUD. For this week the majority of the attention will turn towards the Canadian Dollar where we will have the BOC's policy and rate decision. Just two weeks ago the expectations that the BOC will look to start tapering their QE program was set in stone, but recent rising virus cases and lockdown restrictions has seen some participants push back these expectations. Apart from that, the past few sessions the overall global risk outlook has been the main external driver for the AUD & NZD and without any major surprises we would expect the two antipodeans to be largely driven by the risk outlook. JPY & CHF & USD: With the US10Y pressured in the past week the JPY was quite resilient among major currencies despite overall positive risk tones. As yields find some equilibrium it will be interesting to see whether the JPY takes its cue more from risk sentiment in the weeks ahead as the strong inverse correlation between US10Y & JPY has been moving lower recently. The USD once again saw downside despite further solid econ data and largely followed US10Y's path lower. However, it was quite noticeable that the Dollar didn't fall further on Thursday despite US10Y pushing lower with quite some pace. Friday did see US10Y finding some reprieve alongside the USD. Even though the Dollar's med-term bias remains titled to the downside, we should keep in mind that yields have not been the only driver for the Dollar over the past few weeks as the overall reflation narrative remains a big focus as well. As the USD's slide coincides with lots of exuberance in equities and VIX treading water on key support, we do need to keep a close eye on overall risk sentiment for some potential mean reversion at some stage, and if equities do have some short-term deleveraging it could see some USD safe haven flows. GBP: The two favourites among the FX majors from a fundamental outlook point of view has been the CAD and the GBP, and it's both of them that has been the weakest among the majors over the past two weeks. Whenever we see price action like this we need to ask ourselves whether anything has changed that could jeopardize the fundamental outlook, and despite some initial concerns about the AstraZeneca vaccine, the main drivers for expecting further upside in the Pound is still intact. However, we also don't want to catch falling knives. In the coming sessions, either waiting for price action to confirm the bullish trend is back in focus or waiting for a positive catalyst to driver the Pound higher seems like the best course of action in the short-term. EUR: The upside in the EUR this past two weeks has gone against the overall downside bias for the single currency which has been based on the EU's slower vaccine roll out; rise in virus cases; new lockdown restrictions; growth differentials; monetary policy expectations; and fiscal stimulus. Some have argued that the big unwind in net long positioning over the past few weeks have seen the EUR reach an equilibrium as most of the negatives mentioned above should already be reflected in the price at this point. ING has also noted that there is a possibility that "traders wanting to jump in early on the EUR recovery story – more signs of which should emerge through the quarter as, for example, vaccination programs gain pace in the likes of France and Germany". However, in our view it's far too early to be buying the EUR en masse in the hopes of an eventual catch up in vaccines and growth, especially on the growth side with the recovery fund yet to be ratified and large parts of the EU still under lockdowns while the UK and US is opening up. But, as we noted last week, the sensitivity of the EUR to the Dollar also explains some of the upside in the EUR, and remains a key factor to watch in the week ahead. *This report reflects the COT data updated until 13 April 2021.
by thunderpips