Nzdjpysignal
NZDJPY is in uptrend and approaching Price action levelNZDJPY
After peaking the September month high around 72.00 which is a key psychological level its felled towards 68.640 which is a low volume area and find some buyers and making series of Higher high higher low patterns.
From Sep-09 to Sep-18 it was trading in a range and felled below the range. I have marked some levels are acting as accumulation and distribution phases after some consolidation phase its moved in a massive way.
The price is currently in a consolidation range at around 70.00 key psychological level. From this level we can expect bullish run towards 71.200 which is price action level where we can see a series of upper side rejection.This level is coordinated with 78.6% Fibonacci level
The price is currently trading within a.50 and .618 Fibonacci levels.As its reached the upper side of the .50 Fibonacci we can expect a minor correction towards .382 Fibonacci and from this level it will go bullish.
The 03 Exponential moving averages which is 50,100,200 are holding as support for the bull.
In Elliot wave theory the 4th impulse wave is completed and the 5th wave is underway. relative strength index has reached the 60 level and MACD histogram showing a starting of the bullish trend.
Ichimoku cloud is acting as support for the bull as its managed to float above the cloud.Buying NZDJPY around 69.900 with the target of 71.150 will give a nice risk reward ratio. Stop lose may placed below the 4th Elliot wave end point which is 69.600
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NZDJPY Tripple top patternVery very clear tripple top pattern there. We might be going for a long crash ride. Any thoughts leave in the comment section
💡 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.
NZD/JPY BUY SIGNAL Hey tradomaniacs,
welcome to new free trade-setup.
Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmation!
NZD/JPY: Day-Swingtrade-Execution
Market-Buy: 71,115
Stop-Loss: 70,515
Target 1: 71,600
Target 2: 71,900
Target 3: 72,400
Stop-Loss: 50 pips
Risk: 0,5% - 1%
Risk-Reward: 2,60
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Peace and good trades
Irasor
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NZD/JPY Technical Analysis
The zone of 71.100-200 proves to be a tough nut for the pair.
Despite multiple attempts, the price is unable to break above it.
Further, the price action has formed an evening action star pattern at the resistance zone.
Hence, we expect the pair to be bearish in the near-term.
NZDJPY - BEARISH BIASNZD - BEARISH
1️⃣ Investors were cautious on news that AstraZeneca paused its late-stage trial of one of the leading COVID-19 vaccine candidates after an unexplained illness in a study participant.
2️⃣ Director General of Health Ashley Bloomfield reported six fresh cases of the novel coronavirus in New Zealand, all of which are linked to the Mt Roskill "mini-cluster."
3️⃣ Manufacturing sales in New Zealand plunged 12.1% year-on-year during the second quarter, posting the largest fall since the series began in 1994.
JPY - BULLISH
1️⃣ Traders sought the safety of haven assets following news that AstraZeneca paused its late-stage trial of one of the leading COVID-19 vaccine candidates after an unexplained illness in a study participant.
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TECHNICAL
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- We're shorting NZDJPY on SBR level + SMA100 area on H1 chart.
- NZDJPY still in bearish zone.
NzdJpy- False break can lead to a steep dropLast week NzdJpy traded for just one day above 71.50 resistance. The break proved to be a false one and a strong bearish engulfing followed.
Usually, false breaks announce strong reversals and I expect the pair to drop to recent rage support at 69 zone.
Sell trades around 71.50 have a great R:R
NZD/JPY - ForecastAs you can see NZD/JPY recently broke above the consolidation/Ranging level. and has RETESTED it.
Now we need to see if this was a fake breakout or it will actually continue in Buy.
if it comes back in the consolidation range then it was a fake breakout BUT if it breaks above the previous structure at around 71.950 then it should continue going up till next resistance level which is at around 73.45.
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NZDJPY LONG until next weekI will go long on NZDJPY because it just bounced on the support zone. It is safe now to go long on NZDJPY.
This is the best time to buy NZDJPY for next week bullish move. I think it will go up next week.
Trade At Your Own Risk ;)
Short Position on NZDJPY 4HHello Traders!
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🚀Sell Execution according to the market.
NZDJPY short for 100 pipsHi traders,
As you can see this pair has reversed somewhat and currently trading below 50 EMA. We have seen a pullback with a bearish candle which suggest we might see another push down to make a double bottom at least if not more. I have therefore gone short on this and marked tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
NZD/JPY Wave Analysis
The counter is currently formed a flat ABC corrective wave.
It broke out from a bear flag pattern, tested the broken support, and is now coming down with strong momentum.
Hence, we expect the pair to be bearish in the near-term.
Best Entry Point For NZDJPYNZD - BULLISH
1️⃣ The unemployment rate handily beat the 5.6% forecast coming in at 4.0% and helped to push kiwi to trade well.
2️⃣ Risk-on market sentiment after top Democrats and negotiators from the White House say a deal on a coronavirus stimulus package could be reached by the end of the week and approved as early as the following week.
JPY - BEARISH
1️⃣ The Japanese government plans to decide at a cabinet meeting on Friday to use over 1 trillion Yen from its reserves for responding to the COVID-19 epidemic, after added 1,200 new cases on Tuesday.
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Technical
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📊 We're looking to long NZDJPY on RBS level + SMA50 area.
📊 NZDJPY in bullish zone.
NZDJPY, daily timeframe, Double Top and SHS pattern in playHello my friend,
I noticed some good setup in NZDJPY as price making a potential double top pattern on the daily timeframe.
Taking a deeper look into 4hr timeframe we could see another bearish pattern which is favorable to trade. It is a shs or shoulders head pattern.
I am going to sell NZDJPY as there is 2 bearish patterns in play for this pair.
Also keep in mind there will be NZD datas coming soon in less than 12 hours.
Sell NZDJPY 70.00
Stop loss 70.65
Take profit 1 @69.10
Take profit 2 @68.20
I am selling NZDJPY from 70.00
