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Nzdjpyanalysis

NZDJPY: Might Take A Huge BEARISH Turn...Looking at the fib lines drawn, we managed to see a nice rejection from 2.618 and 3.618 fib level. As we can see, price level is currently trading near a resistance level @73.35. I will be expecting a bigger movement incoming as today's candle seem like it is testing the resistance level before further movement. I potentially see a good risk to reward for this pair with a TP at approximately 1.618 fib level. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
2
NZDJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 50 - Dec 07 M > Market was moving in a downward channel, however it broke resistance to the upside last month. Price has tested monthly resistance. W > We can see W formations but their neck is in the channel that market will have to renter back by breaking its resistance, now as support. D > Market was making its fresh move in a rising channel but it broke out of that as well to have a false break out above monthly resistance but reversal can be seen with bearish engulfing candle. As per COT NZD further added few Long but closed Short bringing Long to the highest for the year and net positions to highest for the year, ZXY has gained strength since all of November and closed last week with rejection after testing June 2018 level as resistance. We can expect correction to the downside for NZD. JPY again saw addition of major Long and some Short positions improving net positions to highest in this year. JXY however weakened during the said period and was indecisive last week ending in a Doji. We can expect strengthening of JPY this week. With weak NZD and strong JPY drop of NZDJPY is a expected. 4H > Price dropped to create a LL and it is now making pull back for a LH, a drop will provide bearish confirmation with a nice Short entry. We will face few demand zones that may pause price on its way down. Pair Correlation > NZDJPY has positive correlation with NZDUSD, NZDCHF, AUDUSD, NZDCAD, GBPUSD and GBPJPY and negative correlation with GBPNZD and EURNZD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
NZDJPY Potential Sell SetupNZDJPY is slowing down in Bullish momentum after breaking past previous resistance. At this point there's potential that the market will pullback. We won't get our confirmation for weekly sells until the upcoming next week's candle closes below the this week's candle. Once that happens, we can look for shorts once we see a break of structure on H4 and aim to take profit at the 72.000 Zone, which was a previous Resistance zone. A close above this week's weekly candle will invalidate sells and signal there is still bullish momentum in this market.
Short
by Richie242
NZD/JPY could fly SOON!Hey tradomaniacs, NZD/JPY has formed an S/H/S-Pattern and could break above the Neck-Zone very soon. If we see a break above we see a confirmed trendchange with the previous break out of the Trendchannel. I`m watching this pair carefully as JPY-Weeakness seems to continue. Pre-conditions for long-trade would be overall a risk-on-sentiment in the stockmarket and so a weak US-DOLLAR. LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez