NZDJPY SWING TRADE SETUP 15-OCT-2020NZDJPY-Technical analysis
The price was closed below the 70.000 key psychological level leaving a doji candle. And currently ZNDPY has retested the 70.000 level and its unable to break firmly
We can sell this pair now and the swing target would be 68.900 and stop lose may placed above the 70.500 level
SWING TRADE-NZDPY
Entry point @ 69.900
Take profit @ 68.900
Stop lose @ 70.520
R:R 1:2
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Nzdjpyshort
Short NZDJPY61.8% Fibo held up strong as an area of resistance. This follows the down trend line created from its last highs.
Looking to find an entry on the 50% level to go short. Target about 100pips, slightly above its last low.
Let's keep the technical simple and easy for all to understand.
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NZDJPY Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 41 - 06 Oct
M > Market is moving in a downward channel, price dropped from resistance of channel.
W > Price tested resistance level thrice and faced rejection to create triple top. We can see a W formation and can set its neck as a target.
D > Price has not been able to break daily support level for the second time, we have a triple bottom. Price has now retraced to previous support, now turned resistance and expect it to make another attempt to the downside.
As per COT NZD saw addition of few Long and more Short reducing net positions, confirming weakness of NZD for the said week. ZXY improved its position last week. JPY had closure of both Long and Short reducing net positions, this made JXY weak for the said week. Whereas JXY slightly recovered its position last week.
4H > Price is currently making HH and HL and is now testing daily resistance. We need to monitor price action for reversal.
Pair Correlation > NZDJPY has positive correlation with NZDUSD, AUDUSD, AUDCHF and AUDJPY and negative correlation with EURAUD.
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 you can share your view and ask questions.
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AP17FX
NZDJPY Sell Swing Trade Setup. NZDJPY Sell Swing Trade Setup.
Please manage your risk. Use Stop loss. And do not take blind entries.
If you have a question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
The Market can go in the opposite direction, what we analyze. So we have to manage our risk and adopt the situation accordingly.
NZDJPY NEW + UPDATED Hello Dear Traders, here is the full UPDATED Analysis / Breakdown for NZDJPY.
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💡 NZD/JPY 📉👋 Hello and welcome traders to another trade idea with Fobian
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👉 WE will waiting for SELL conformation:
- We have downtrend.
- MACD give us SELL signal.
- Candle close below ASIAN session.
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NZDJPY - BEARISH BIASNZD - BEARISH
1️⃣ Risk-averse market environment at the start of the week provided a boost to the safe-haven USD and caused the Kiwi to fall sharply.
2️⃣ In the early Asian session on Wednesday, the RBNZ will announce its Interest Rate Decision and release the Rate Statement.
JPY - BULLISH
1️⃣ Trepidation about the global economic outlook as novel coronavirus infection rates continue to increase. Data from Johns Hopkins University on Sunday showed that cases have increased by at least 10% in 31 US states while European countries from Denmark to Greece announced new restrictions last to contain virus infections in some of their largest cities.
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TECHNICAL
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- We're keen to sell NZDJPY on SBR level on H1 chart.
- NZDJPY in bearish zone.