Perfect buy entry in NZDJPY (D1 and H1)Hello friends. Here is an analysis on NZDJPY. As we can see in D1 the pair is going in descending broadening pattern and the pair is respecting every support and resistance points inside that channel. Currently the pair hit the support line and started going up. One can take a buy call from here. We have also posted another analysis of H1. As per H1 the pair is in descending triangle pattern and is close to its support level. Our analysis is that the pair will hit the support line in H1 and then break the triangle pattern and move upwards.
Let us know your views guys Thank you.
Ryan.R.Lopes
Nzdjpybuy
NzdJpy- correction underway?After breaking-down the consolidation just above 70 zone, NzdJpy fell hard last week, the pair losing 300 pips (almost 5%), with most of the losses done on Friday.
The pair stopped its descent just in 67 area support and, with the price being so far from its 50 EMA, a correction could follow.
The next important resistance comes into place at 70 old support.
Looking to buy
Trading Pathways Analysis of NZDJPY H4 Chart
The outlined white arrow pathway is the predicted pathway that the NZDJPY will follow in the coming days or weeks. Using my unique charting methods, I have been able to arrive at HIGH PROBABILITY turning points where NZDJPY will turn.
PLEASE NOTE THE ABOVE ANALYSIS IS FOR EDUCATIONAL PURPOSES ONLY. THEY ARE NOT DIRECT INSTRUCTIONS TO TRADE AND ANY LOSS INCURRED BY FOLLOWING THIS ANALYSIS IS AT YOUR OWN RISK.
Eiseprod of Trading Pathways
NZDJPY at critical Area, could go either way.In all my previous NZDJPY ideas, I recommended traders to sell NZDJPY. If you followed, you might have made close to 200 pips profit from those.
However, through this analysis, I want to say that NZDJPY could bounce upwards in the coming days.
Today's daily candle might show indications of a trend reversal as this candle has formed at the 100D EMA.
So, if NZDJPY closed around 71.25 today, we could very well see a trend reversal in the coming days.
That being said, if price does manage to break the 71 barrier and manages to stay below it, the next area of importance will be 70.
Ideally, I would keep an eye on today's closing price before executing any further trades.
We are fighting to fall, so we should change our viewMy last ideas about NZDJPY predicted that we need a fall here. When you look on the H4 chart in my last idea (which is linked) you will see, that we had several pushes down to a new "fake" line.
This new "fake" line often gets installed my Market Makers to let us think that it is a strong support, so we don't know what the outcome will be - we have to wait.
Anyway, i change my view from a sell to a buy now. Yes, the other idea is still valid as we could fall in the short term but in the long I see it bullish.
NZDJPY Market Outlook | Daily Forex Market BreakdownNZDJPY
Looking similar to NU pushing up and rejecting off residence nicely. Still a little bit to early to hop into shorts but it is looking really good we could see one or two final pushes to the upside before we roll over and melt down to 70.00 and possibly lower. Definitely on the watchlist for now.
NZDJPY approaching support, potential for a bounce!
NZDJPY is expected to drop to 1st support at 69.322 where it could potentially react off and up to 1st resistance at 69.627.
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