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Nzdjpysignal

NZD/JPY - Incoming Drop - 200 PipsNZD/JPY is making new lows and has currently broken the 200 EMA on the 4H chart. We have 2 reversed hammer one by the side of the other meaning there is strong weakness. For the next breakdown to begin right away, prices would have to not break the 200 EMA on the 4H chart (Which is the last high of the 2 reversed hammer candlesticks). If it does break the 200 EMA up, then it will take a while for the move down to continue. One could put a pending order at 74 so that as soon as the break happens, you can get in the move. Trade safe.
Short
by MoolahMaker
Potential NZDJPY Moves on Weekly - Very TextbookThe NZDJPY has been making textbook moves for the past 5 or so months and nows the perfect time to see some changes. We had a wedge pattern forming, as well as a bat pattern within the wedge as a little reassurance to buy. Following the leg formed by the bat pattern, we turned around at the .618 giving us a very nice 2618 formation. Going on, theres now a couple of scenarios we could have here; 1. Long position continuing on with wedge pattern. - Look for a reversal around the NZDJPY 75.80 area. - Stop loss - just make sure you don't get a lower low lower close candle. If you do then close the trade and take the loss. - Take profit @ 78.04. Would recommend either trailing your stops as price goes up, or closing half your position @ 77.07 The other alternative; 2. Short position due to breakout. In this case; -When price gets to that 75.8 area, look for a lower low lower close candle (L3C). The magnified areas in the photo explain this. - You must wait for the close. Use the Daily chart to find the L3C candle. - Confirm the close on the weekly. There may be a retest of structure following the L3C so beware of a slight retracement.
by JoeyMvc
NZDJPY right above major support, prepare for a potential bounce NZDJPY is approaching major support and a potential bounce could occur at 79.45 (Fibonacci retracement, Fibonacci extension, Elliott wave structure) to push price up towards 80.51 (Fibonacci retracement, Elliott wave structure, horizontal overlap resistance). Stochastic (55,5,3) is seeing major support above 1.7% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
NZDJPY approaching major support, prepare for a bounce! NZDJPY is approaching major support and a potential bounce could occur at 79.45 (Fibonacci retracement, Fibonacci extension, Elliott wave structure) to push price up towards 80.51 (Fibonacci retracement, Elliott wave structure, horizontal overlap resistance). Stochastic (55,5,3) is seeing major support above 1.7% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
NZDJPY broken major channel, potential bearish reversalNZDJPY has broken our major ascending channel support triggering a potential bearish exit. Our major resistance level is at 80.40 (Fibonacci retracement, pullback resistance) and a strong reversal could occur from here to push price down towards 80.02 (swing low support, Fibonacci retracement) before 79.50 (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
NZDJPY continues its rise NZDJPY has continued to bounce up perfectly as expected as it remains in our ascending channel. Major support remains at 80.57 (Fibonacci retracement, bullish channel support) with the next major level of resistance at 81.26 (ABC Fibonacci extension, horizontal swing high resistance). RSI (34) sees multiple bullish exits signaling that bullish momentum is still strong in this currency pair. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill