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JAPANESE YEN / NEW ZEALAND DOLLAR

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JPYNZD trade ideas

NZD/JPYSupport and resistance are critical concepts in technical analysis: 1. **Support** is a price level where buying interest is strong enough to prevent the price from falling further. It represents a zone of demand and is seen as a potential buying opportunity. 2. **Resistance** is a price level where selling interest is strong enough to prevent the price from rising further. It represents a zone of supply and is seen as a potential selling opportunity. 3. These levels are not fixed prices but rather zones where buying or selling pressure tends to concentrate. 4. Traders use various technical tools to identify support and resistance levels, such as trendlines, moving averages, and chart patterns. 5. Support and resistance levels help traders make decisions about entering or exiting trades, setting stop-loss orders, and managing risk. 6. When a support level is breached, it may become a new resistance level, and vice versa. 7. While support and resistance levels can be reliable indicators, they are not foolproof and should be used in conjunction with other analysis methods.
Short
by B9A-88652-NisarAhmad
NZDJPY Potential Resistance Breakout At 96.736 03.05.2024- Potential resistance breakout at 96.765 on 30-minute NZDJPY chart. - If breakout holds, high chances of exchange rate rising to 97.112; breaking 97.112 may push it higher. - If breakout fails, high chances of exchange rate dropping to 96.440; breaking 96.440 may push it lower. - Apply risk management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350)
Long
by Stuart_Cowell
NZDJPY Approaching the top of 3.5 years Channel Up. Strong sell.The NZDJPY pair is trading on the 4th straight green 1W candle and is approaching the top (Higher Highs trend-line) of the Channel Up pattern that started on November 2020. Even though it may extend to a +9.30% rise (the smallest long-term it had within the pattern), selling now offers excellent Risk/ Reward conditions. Our target is 92.000 (Higher Lows trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
2
NZDJPY dropping soon?After watching and trading this currency pair for months I've noticed NZDJPY is now in an important resistance from 2007 around the price of 97.792 and from that time up to this current day this pair broke out of what seems to be a wedge (ABCDE formation) and a breakout and retest occured between the last few days of April into the first week of May shooting price close to the range of 97.000. It didn't quite reach it and the pair is slowly gaining some bearish momentum. This could possibly be the reversal point now the some bearish order blocks were created on higher time frames such as the 1 hr up to the 4 hr and my RSI shows strong bearish signals. When using the daily time frame volume has been somewhat decreasing even though price was still moving up which means it can collapse changing direction. It would make sense seeing that there are liquidity zones that have not been swept for example 87.741- 87.705 and 80.695- 80.464. In conclusion this is a scenario that may very well happen if price doesn't make a higher high above 97.792 breaking resistance making it support. Price can drop as low as 80.100 and even lower to 68.000
Short
by ProfitPanther
2