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Nzdjpy!!

NZDJPY - 4hrs ( Buy Trade After retest / Tp Range 180 PIP ) Pair Name : NZD/JPY 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( Long After Retest ) Type : Mid Term Swing ——————————— Bullish Retest 86.950 Area Reasons - Major Trun level - Visible Range Value - Choch / Liquidity - Fibo Golden Zone - Day / week High Bearish Reversal 87.500 Area Reasons - Major Channel Middle Band - Pattern Target - Month High - Year High + 2 Quarter High Area - Ultra Volume
Long
by GoldenEngine
4
NZD/JPY Forecast Fundamental AnalysisNew Zealand GDP disappoints with a slight decrease in the first quarter, while Japanese trade balance shows a larger deficit in May. The New Zealand GDP for the first quarter contracted by 0.1% on a quarterly basis, with an annualized increase of 2.2%. Economists had predicted a similar drop but anticipated a higher rise of 2.6%. Comparatively, the third-quarter GDP in New Zealand had contracted by 0.7% on a quarterly basis but expanded by 2.3% annually. Additionally, the New Zealand GDP Annual Average for the first quarter rose by 2.9% quarterly, while GDP Expenditure saw a quarterly contraction of 0.2%. Economists had forecasted an increase of 2.5% and 2.1% respectively. In comparison, the fourth-quarter New Zealand GDP Annual Average had increased by 2.7% quarterly, while GDP Expenditure had declined by 0.9% quarterly. Meanwhile, the Japanese Trade Balance for May reported a deficit of ¥1,372.5 billion, with the Adjusted Trade Balance at ¥0.78 trillion. Economists had predicted a reading of -¥1,331.9 billion and -¥1.12 trillion respectively. Comparing this to the Trade Balance in April, which showed a deficit of ¥432.3 billion, and the Adjusted Trade Balance at -¥1.04 trillion. Furthermore, exports for May rose by 0.6% on an annualized basis, while imports witnessed a significant decline of 9.9%. Economists had anticipated a contraction of 0.8% for exports and 10.3% for imports. In contrast, exports for April had increased by 2.6% annually, while imports had dropped by 2.3%. Additionally, Japanese Machine Orders for April recorded a monthly increase of 5.5% and an annualized decrease of 5.9%. Economists had forecasted a rise of 3.0% and a larger decline of 8.0%. Comparing this to the data for March, which saw a monthly contraction of 3.9% and an annualized decrease of 3.5%. Foreign buying of Japanese bonds for the period ending June 10th amounted to ¥14.7 billion, while foreigners' buying of Japanese stocks reached ¥1,324.9 billion. This can be compared to the data for the period ending June 3rd, which reported foreign buying of Japanese bonds at ¥521.3 billion and foreigners' buying of Japanese stocks at ¥608.7 billion. Furthermore, the Japanese Tertiary Industry Index for April displayed a monthly increase of 1.2%, surpassing economists' expectations of a 0.5% rise. However, the index had dropped by 1.5% in March on a monthly basis. Despite New Zealand entering a technical recession, the NZD/JPY forecast has turned cautiously bearish due to a double-top formation at a significant horizontal resistance level. Both bullish and bearish traders will compete for control, and the Relative Strength Index (RSI) remains in the overbought area. A short setup is being considered.
Short
by FOREXN1
7
NZD/JPY Breakout and RetestThe NZD/JPY currency pair recently displayed a promising price action pattern, as it broke out of a triangular consolidation pattern and successfully retested a significant support level at 85.00. This technical development suggests a potential bullish momentum for NZD/JPY, providing us with an opportunity to capture potential gains. The breakout above the upper trendline of the triangle signifies a shift in market sentiment, indicating that buyers have gained control over sellers. Moreover, the subsequent retest of the 85.00 support level reinforces the significance of this area and suggests that it could serve as a strong foundation for further upward movement. With the bullish bias established, we can consider targeting three specific levels as potential profit objectives. These targets are determined based on previous resistance levels: TARGET 1 : 85.82 TARGET 2 : 86.30 TARGET 3 : 86.84
Long
by UnknownUnicorn48526553
🔥 MODIFICATION: NZDJPY 🔥 SWING TRADE 🔥Our technical analysis of NZDJPY is still in play. The pair has been in a downtrend for the past few months and has recently reached a Supply Zone (SZ) at 86.60 on the 15-hour chart. This SZ suggests that there is strong selling pressure at this level, and it is likely that the pair will continue to decline. The next resistance level is at 86.80, and if this level is respected, then we have a huge opportunity to capitalize on this downside pressure. Resistance @ 86.80 Supply Zone @ 86.60 SSO2 @ 86.15 📉 SSO1 @ 85.15 📉 TP1 @ 84.35 (shaving 25%) TP2 @ 83.66 (shaving 50%) TP3 @ 82.33 (closing ALL Sell Orders) BLO1 @ 82.00 BLO2 @ 81.25 -SL @ 80.85 🚫
Short
by ProfessorCEWard
1
NZDJPY to find support at previous resistance?NZDJPY - 24h expiry Previous support located at 85.25. Previous resistance located at 85.50. Further upside is expected. Risk/Reward would be poor to call a buy from current levels. A move through 85.50 will confirm the bullish momentum. We look to Buy at 85.00 (stop at 84.60) Our profit targets will be 86.00 and 86.20 Resistance: 85.50 / 86.00 / 86.50 Support: 85.25 / 85.00 / 84.50 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
1
NZDJPY support continues to hold back the bears.NZDJPY - 24h expiry - We look to Buy at 84.50 (stop at 84.05) Previous support located at 84.41. Previous resistance located at 85.00. Price action looks to be forming a bottom. Further upside is expected. Dips continue to attract buyers. Our profit targets will be 85.60 and 85.80 Resistance: 85.00 / 85.41 / 85.86 Support: 84.50 / 84.25 / 83.50 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
1
NZDJPY: starting the final sell wave of the Head and Shoulders.NZDJPY is on neutral 1D technicals (RSI = 50.536, MACD = 0.110, ADX = 26.358) as the price is consolidating after a rebound on the 1D MA50. The rejection on the R1 Zone, is technically the Head of the Head and Shoulders pattern, a bearish formation seen on market peaks. This rebound is forming the Right Shoulder. With the 1D RSI on Higher Lows for the whole year, we can't ignore the possibility of a fake Head and Shoulders formation, so the level which invalidates this is the LS overhead Resistance at 85.940. Under this, we will target the 0.236 Fibonacci level (TP = 81.550), which is a standard target for the price after rejections on the R1 Zone since April 2022. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope