NZDJPY is approaching support, potential bounce | 26 Oct 2020Price is approaching support where we could see a bounce above this level.
Nzd-jpy
NZD/JPY Bearish Breakout🔸 4H CHART EXPLANATION:
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🔸Price bounced at the Daily Resistance Zone.
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🔸It has broken the Ascending Trendline.
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🔸We can observe that this pair has been moving on a range for the last months, but now we can see a clear structure broken to the downside.
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🔸 The first bearish target of this move is the Support Zone at 68.300.
🔸 DAILY CHART EXPLANATION:
NZDJPY close to a breakout in symmetrical triangle patternHello, my fellow traders, hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price is currently inside the Symmetrical triangle pattern. One can wait for breakout.
Let us know your views on this in the comment section. Thank you all.
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NZD/JPY Short Term Analysis🔸 4H CHART EXPLANATION:
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🔸Price bounced at the Resistance Zone and broke the Ascending Trendline.
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🔸As we can see, now it is making a corrective structure.
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🔸In case of a bearish breakout, the first target is the Support Zone .
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🔸 Although we have a bearish view on this pair, we also have analyzed a bullish scenario in case price breaks the Resistance Zone.
🔸WEEKLY CHART ANALYSIS:
NZDJPY Looking like it will go short.Hello everyone!,
looks like a short to me. Got in a bit early but lets see
NZDJPY1 failed to break structure high
2 violation of trend line
3 retest previous high failed to break again
4 found SL on 15m TF
(Based on 4h TF)
NZDJPYWe will be looking into 1D chart to look for our next move on this pair.
First we have to say that we are still in long term descending channel on 1W chart and we have shorter term (since March) ascending channel on 1D chart. Where are we now? we are close to upper line of both channels and we have to see how the pair is going to react to two
strong resistance lines and that will determine its future.
we expect continuation to the upper line of 1D channel, after huge accumulation we witnessed in second quarter of this year,
which is going to put on the test 1W channel.
Our simpler view is that we expect price to go to 71.000 and than 72.000 where will be our TPs.
Facts:
- Ascending channel on 1D chart
- Ascending trend line on 1D chart
- rejected support line on 69.000
- Double bottom formation
Good enough for us to go into the trade but since we have to respect long term formation we will put TPs in respected levels.
If you like this idea, please LIKE it and leave a comment below.
As a reminder, please, for your protection, apply 1-2% risk management policy.
Check our other ideas as well.
Best of luck and profitable week to all!
NZD JPY SELL (NEW ZEALAND DOLLAR - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current levels for sell.
NZDJPY Intraday Bearish Trend ContinuationI have a long term bearish swing trade bias on NZDJPY and the 4hr timeframe is now looking good for a further entry.
Nice retracement to the 0.618 and price support/resistance zone. Simple trend with lower highs and lower lows being made on this timeframe. Price has pulled back in to the 4hr 200EMA zone.
Price targets are on the chart.
NZDJPY high beta vs Safe haven Technical analysis shows a very strong upward trend.
But this view varies depending on the current situation and the functioning of the stock market.
NZD is the HIGH BETA currency and JPY is the SAFE HAVEN currency.
If the market is RISKOFF, the JPY will strengthen and the NZD will fall
If the market RISKON, the NZD will strengthen and the JPY will fall
NZD/JPY Bearish View / Top-Down Analysis🔸 DAILY CHART EXPLANATION:
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🔸Price bounced at the Resistance Zone.
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🔸It has broken the Ascending Trendline.
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🔸We consider that this pair has bearish potential towards the Support Zone at 0.66300. However, we need to be careful with the middle Support Zone at 68.800.
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🔸 Will look for a lower timeframe bearish setup.
🔸 4H CHART ANALYSIS:
$NZDJPY - Possible bearish gartleyHello guys!
Tracking down bearish gartley in this pair, current level is an important support, so if remains above - we will witness the uptrend anytime soon.
Bear in mind that there is also a possibility of the bearish crab pattern formation, watch for both patterns.
Good luck!
Two great Sell opportunities on this chart for NZDJPYMid-Term Forecast
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (71.670). 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 downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 55.
Take Profits:
TP1= @ 70.95
TP2= @ 69.95
TP3= @ 68.72
TP4= @ 67.15
TP5= @ 66.05
SL: Break Above R2
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Short-Term Forecast
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (71.6). 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 downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 70.95
TP2= @ 70.60
TP3= @ 69.95
TP4= @ 68.72
TP5= @ 68.20
SL: Break Above R2
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TRADE IDEAS: NZD JPYAfter Sell trend came to a zone of "Equal Highs and Equal Lows"... I would like to see expansion candles break up first and gain sell postion liquidity, then Stop Loss Hunt with a break lower of the average price (PINK LINE) and gain Buying Liquidity from people that will think to sell. Finally with the real move for the BUY
NZD JPY SELL (NEW ZEALAND DOLLAR - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current levels for sell.
Weekend Chart Mark-up's : NZD JPYIf you are looking for a buy or a sell I feel price will use these prior zones to find its way through structure in price movement .
