NZDJPY - Zone to ZoneYesterday's collapse filled some of the imbalance from the strong move up.
We are now trading around a previous order block and showing signs of rejection, could this be signs of some bullish momentum prior to NFP?
Ideally, I would like to buy here to the higher OB but I will wait for further confirmation.
Nzdjpyshort
A Nice Clear Chance to Ride the Channel The market has been moving in a very nice way in the long run particularly in the rising wedge pattern. It made a new high recently and there is a high probability that it will travel down for some time now, my personal taste says 76.5 at least.
A chance to take short ASAP as soon as the market opens because a resistance has been formed and this is a nice entry to travel the down move.
Never risk more than 0.5% risk on the trade, let the risk to reward do its job.
NZDJPY facing bearish pressure, drop incoming!Prices are facing bearish pressure and might continue its bearish moves downwards if it breaks through support level which coincides with 127.2% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push down further and take support from 161.8% Fibonacci retracement and 127.2% Fibonacci extension. If prices reverses from pivot, prices might face resistance from horizontal swing high resistance in line with 50% Fibonacci retracement and 50% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.
NzdJpy to break support?Since February, NzdJpy has had 6 attempts to stay above 79 figure and failed every time.
Now the pair broke under trendline support and is trading just in horizontal support level around 78
A break here would give bears the upper hand and would expose 76 support.
NzdJpy back above 79 would negate this bearish scenario
Ascending Structure + Bear Flag continuation after the Breakout.With how Market closed, it looks like we may finally get sellers commitment this coming week, What I'm looking for is for a lower timeframe tight flag to continue the downtrend, if Price shoots up to test the high one more time I might opt for a breakout entry of the larger flag, my stop loss will be larger but I'm fine with it as we broke out of the larger ascending channel therefore the risk is worth it.
NZD/JPY SELL SIGNALHey tradomaniacs,
welcome to another trade-setup!
NZD/JPY: Day-Swingtrade-Execution
Market-Sell-Order: 78.430
Stop-Loss: 78.960
Point of Risk-Reduction: 77.950
Take-Profit: 76.730
Stop-Loss: 55 pips
Risk: 0,5% -1%
Risk-Reward: 3,10
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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💡Don't miss the great sell opportunity in NZDJPYTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (78.80).
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 a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 33.
Take Profits:
TP1= @ 78.35
TP2= @ 78.10
TP3= @ 77.90
TP4= @ 77.70
TP5= @ 77.35
SL: Break Above R3
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💡Don't miss the great sell opportunity in NZDJPYTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (78.80).
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 a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 33.
Take Profits:
TP1= @ 78.35
TP2= @ 78.10
TP3= @ 77.90
TP4= @ 77.70
TP5= @ 77.35
SL: Break Above R3
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️