NZDJPY - 24h expiry Previous support located at 84.50. Previous resistance located at 85.00. Broken out of the channel formation to the downside. Further downside is expected. Risk/Reward would be poor to call a sell from current levels. A move through 84.50 will confirm the bearish momentum. We look to Sell at 85.35 (stop at 85.75) Our profit targets will...
Hey Traders! 👋 For Day 14/100 of our challenge, we will look at NZDJPY upside potential It is a simple break and retest setup Break of 86 high > created a higher-high 87.3 > Retest to 85 daily resistance and 62% fib > target higher resistance Long thesis is invalid once 84 level is broken Simple technical outlook today. Have a great day ahead 🥂
Hey Traders, in tomorrow's trading session we are monitoring NZDJPY for a selling opportunity around 84.200 zone, NZDJPY was trading in an uptrend and successfully managed to break it out, currently NZDJPY seems to be in a correction phase in which it is approaching the retrace area at 84.2 support and resistance zone. Trade safe, Joe.
NZDJPY - 24h expiry Previous support located at 85.00. Previous resistance located at 85.50. Price action looks to be forming a top. Short term momentum is bearish. A move through 85.00 will confirm the bearish momentum. We look to Sell a break of 85.28 (stop at 85.78) Our profit targets will be 84.08 and 83.78 Resistance: 85.50 / 85.80 / 86.00 Support:...
Potential Wave 5 Retracement. Wave 5 looks to be close to being complete. Looking for a retracement or pullback anywhere between 15-50% of the fibonacci retracement. Not advice.
NZDJPY has been trading sideways inside a Rectangle pattern for a full year. Our TP = 86.300 is close to getting hit, the 1D technicals are naturally green (RSI = 65.478, MACD = 0.580, ADX = 24.917) since we are on a bullish wave but the price is approaching the Sell Zone of this pattern. That is the region between the 0.786 Fibonacci level (86.300) and the R1...
The NZDJPY pair has been on a strong rebound ever since the April 26 hit on the 1W MA100 (red trend-line), which has been the major long-term Support. Even though it got rejected on the 85.265 Resistance, as long as the 1D MA50 (blue trend-line) holds, we will be bullish targeting the bottom of the Resistance Zone at 86.500. The 1W RSI is printing a pattern...
Hey Traders, in today's trading session we are monitoring NZDJPY for a selling opportunity around 84.300 zone, NZDJPY is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 84.300 support and resistance zone. Trade safe, Joe.
A soft inflation report from New Zealand weighed broadly on the Kiwi dollar yesterday, as traders began to price in the prospects of a 25bp hike (down form 50bp) or even a pause at the RBNZ's next meeting. The slight risk-off tone saw flows into the yen, and risk-currencies such as AUD and NZD were lower which has placed ZD/JPY on our shirt watchlist. The cross...
After price swept liquidity at the top, it broke structure to the downside with momentum. Price then formed an an ascending channel liquidity of which it cleared above it and preceded to break structure to the downside. Price is currently in an established POI and is possibly looking to drop to take out the rest of the liquidity at the bottom of the ascending channel.
NZDJPY has found support at the Fibonacci level, which increases the probability of the bullish domination. Overal, NZDJPY might experience a relatively fast price increase.
NZDJPY - 24h expiry - We look to Buy at 82.00 (stop at 81.40) Previous support located at 82.00. Previous resistance located at 83.00. With signals for sentiment at oversold extremes, the dip could not be extended. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. Our profit targets will be 83.20 and 83.50...
The NZDJPY pair is on a neutral technical price action on the 1D time frame (RSI = 51.078, MACD = -0.120, ADX = 32.313) as it reached the 0.5 Fibonacci level and 1D MA50 yesterday. This is the middle level of the long-term trading range inside the S1 and R1 Zones since April 20th 2022. So essentially this pair has been trading sideways for almost 1 year. Since...
Hey Traders, in today's trading session we are monitoring NZDJPY for a selling opportunity around 84.200 zone, NZDJPY is trading in a downtrend and now seems to be in a correction phase in which it is approaching the major trend around 84.2 support and resistance zone. if the rejection is confirmed i would consider 81.2 as a target as it's considered the next...
NZDJPY - 24h expiry - We look to Buy at 82.25 (stop at 81.60) Previous support located at 82.50. Previous resistance located at 83.00. The trend of lower intraday highs has also been broken. Further upside is expected. Risk/Reward would be poor to call a buy from current levels. Our profit targets will be 83.75 and 84.00 Resistance: 83.00 / 83.50 /...
The NZDJPY is testing a local resistance zone that has been tested as a support 5 times before. Moreover, the zone includes a Fibonacci level of 38.20, a descending trendline, and the 4-hour 50-period moving average. All of these factors make a strong case for a possible downward reversal, with a potential next target of...
Hey Traders, in today's trading session we are monitoring NZDJPY for a selling opportunity around 82.400 zone, NZDJPY is trading in a downtrend and now seems to be in a correction phase in which it does approach the major trend around 82.400 Support and resistance zone. Fundamentally JPY is still considered a safe haven with current banking sector crisis. Trade safe, Joe.
Hey Traders, in today's trading session we are monitoring NZDJPY for a selling opportunity around 82.450 zone. NZDJPY is trading in an uptrend and extending pullbacks seems to be approaching the major trend around 82.450. zone. I would also consider NZDJPY shorts due to JPY strength as JPY is considered a safe haven due to bank crisis. Trade safe, Joe.