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JAPANESE YEN / NEW ZEALAND DOLLAR

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JPYNZD trade ideas

"NZD/JPY: Consolidation Hints at Upcoming Rally"The NZD/JPY currency pair is currently showing signs of consolidation near a key resistance level, following a recent retest and what appears to be a false breakdown. As the Japanese yen continues its decline, driven by a combination of domestic factors and the broader strength of the U.S. dollar, the New Zealand dollar may be positioning itself for an upside move. The technical picture is intriguing, as price action suggests an impending shift in momentum. The price behavior at range resistance has been relatively muted, with no significant reaction thus far. However, a descending wedge pattern is forming—a powerful technical formation often associated with the potential for sharp movements once a breakout occurs. This wedge reflects a period of consolidation, but one that is building energy for a decisive move. Given the yen's weakness, largely driven by the Bank of Japan's passive stance in the face of economic developments and the dollar's rally, the near-term outlook for the pair suggests upward potential for the NZD. However, traders should remain cautious, as any strong comments from Japanese officials or unexpected shifts in central bank policy could trigger a rapid reversal, putting the current setup at risk of a shakeout. Currently, key resistance levels are situated at 91.362 and 91.968, while the nearest support is around the 90.056 mark. Price action shows that the NZD/JPY pair has stalled at wedge resistance, entering a period of consolidation lasting between 12 and 16 hours. This pause in movement is a common feature of patterns like the descending wedge, which tend to "compress" price action before a breakout attempt. The critical question is whether the bulls can defend the price above the psychological barrier of 91.0. If they succeed in maintaining control above this level, the stage could be set for a sustained mid-term rally, offering a strong upside opportunity for traders. This technical setup coincides with broader fundamental factors that could provide tailwinds for the pair. The yen’s weakness has been exacerbated by a lack of intervention from the Bank of Japan, which seems content to let the currency drift lower while they assess the impact of U.S. economic data and the ongoing dollar rally. This inaction may be temporary, but for now, it creates a window for the NZD to gain further ground. The absence of any significant reaction to resistance hints at a market that is quietly building momentum, potentially setting the scene for a breakout if the bulls remain in control. In summary, NZD/JPY is entering a crucial phase as it consolidates near resistance, forming a descending wedge that often precedes strong price movements. With the yen continuing to lose ground and no immediate intervention in sight from Japan’s central bank, the path of least resistance appears to be upward. However, the risk of a shakeout remains high, particularly if unexpected comments or actions from Japanese officials catch the market off guard. For now, though, the technicals favor the bulls, and if the price holds above 91.0, we could see a meaningful rally in the medium term, driven by both technical patterns and the ongoing weakness of the yen. Traders should closely monitor price action at key levels, as the next move may offer a compelling opportunity for those positioned for a breakout.
Long
by lonelyPlayer0
NZDJPY → Pre-breakdown consolidation. Preparing for a rallyFX:NZDJPY is forming consolidation near resistance after retest and false breakdown. On the back of JPY decline, NZD may show upside... There is no proper price reaction to range resistance. Consolidation in the format of a descending wedge, a rather strong pattern capable of forming strong movements, is being formed. The Japanese national currency continues to update lows amid the calm of the central bank of Japan, which is waiting for something because of the rally in the dollar, as well as economic data from the United States. Any strong comments could restart the rally in the JPY, so the risk of a shakeout is quite high. But at the moment the chart is hinting at a possible upside... Resistance levels: 91.362, 91968 Support levels: 90.056 The price stops moving away from the wedge resistance at some point, forming a 12-16 hour consolidation. Most likely there will be a breakout attempt. If the bulls keep the defense above 91.0, we can catch a good upward rally in the mid term Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDJPY ;) Regards R. Linda!
Long
by RLinda
7
"NZDJPY Tightens Up: Gearing for an Imminent Rally"NZDJPY: Consolidation Near Resistance Sets Stage for Potential Upside Rally The NZDJPY currency pair is currently navigating a phase of consolidation near a key resistance level, following a recent retest and a false breakdown. This situation is particularly intriguing, as it reflects underlying market dynamics influenced by the ongoing decline of the Japanese yen (JPY). With NZD poised for possible upward movement, traders are closely watching this evolving scenario. Recent price action indicates that there has been a lack of significant reaction at the range resistance level. The consolidation pattern forming here resembles a descending wedge, a well-known technical formation recognized for its potential to trigger substantial price movements. This wedge signifies a tightening of price action, suggesting that the market is building energy for a possible breakout. The backdrop of this technical setup is the ongoing depreciation of the JPY. The Japanese currency continues to hit new lows, largely due to the cautious stance of the Bank of Japan (BoJ). Currently, the central bank appears to be in a wait-and-see mode, assessing the implications of a rally in the US dollar and the latest economic data emanating from the United States. The BoJ's reluctance to make any abrupt policy changes could lead to a further weakening of the yen, thereby providing additional support for NZD. However, the risk of a shakeout remains significant. Any strong comments or policy shifts from the BoJ could swiftly reverse market sentiment, reigniting bullish momentum for the JPY. As such, traders must remain vigilant, understanding that the landscape could change rapidly with any new developments. Nevertheless, the current chart setup suggests a leaning toward a potential upside. Key resistance levels to monitor include 91.362 and 91.968. These levels represent critical barriers that, if surpassed, could confirm the bullish outlook for NZDJPY. On the downside, the support level stands at 90.056, providing a safety net for bulls as they attempt to maintain control. Recently, the price has shown signs of stability, momentarily pausing its movement away from the wedge resistance. This consolidation has persisted for approximately 12 to 16 hours, hinting at the possibility of an impending breakout. If bullish momentum can be sustained above the 91.0 mark, we may witness a significant upward rally in the mid-term. In conclusion, the current technical landscape for NZDJPY presents a compelling narrative. The combination of a descending wedge pattern, the ongoing weakness in the JPY, and the potential for bullish continuation creates an environment ripe for an upward movement. Traders should remain alert to resistance and support levels as they prepare for the next phase in this dynamic currency pair's journey. With careful monitoring of market developments and technical signals, the stage is set for a potential rally that could provide valuable trading opportunities.
Long
by lonelyPlayer0
2
NZDJPY Is Going Down! Short! Here is our detailed technical review for NZDJPY. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 91.001. Considering the today's price action, probabilities will be high to see a movement to 90.827. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
2
NZDJPY going down for 50pipsWhen you anticipate that NZD/JPY will go down by 50 pips and are referencing a bat pattern, you're combining both price movement and technical analysis (specifically, harmonic trading patterns) in your forecast. 1. 50-Pip Bearish Movement You are expecting that the New Zealand Dollar (NZD) will weaken against the Japanese Yen (JPY), and the exchange rate will drop by 50 pips. If the current price is, for example, 88.00, a 50-pip bearish move would push the price down to 87.50.
Short
by LORDOFTHETRADERS
NZD/JPY H4 | Potential bullish bounceNZD/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 90.23 which is a pullback support. Stop loss is at 89.70 which is a level that lies underneath a multi-swing-low support and the 38.2% Fibonacci retracement level. Take profit is at 91.27 which is a swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
1
Bearish drop?NZD/JPY is reacting off the resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could fall from this level to our take profit. Entry: 90.71 Why we like it: There is a pullback resistance level that aligns with the 50% Fibonacci retracement. Stop loss: 91.02 Why we like it: There is an overlap resistance that is slightly below the 78.6% Fibonacci retracement. Take profit: 90.20 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Potential bullish reversal?NZD/JPY is reacting off the pivot which has been identified as a pullback support and could rise to the 1st resistance level which acts as a pullback resistance. Pivot: 90.25 1st Support: 89.88 1st Resistance: 90.61 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets