JPYZAR trade ideas
ZARJPY (With trend Trade)Weekly: Broke and close above resistance at 7.747 as we are currently bullish on the trend line.
1hr:Expecting retracement at 7.747 before bullish continuation, hence buys at 7.747
ZARJPY1hr: Divergence on 1hr
sells at 7.620, being the resistance supported by the turtle soup sells
LONG ZARJPYPotential Long Entry for ZARJPY
I cloned the support trend line to predict a potential new resistance trend line.
more likly this market will create a sell if we can hold sell for 1 month than more likely we can hit the target
ZAR JPY BUY (SOUTH AFRICAN RAND - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
ZAR/JPY is bearish at 4h chart!!!I see a bearish rising wedge and divergences on histogram for Zar/Jpy.
You can sell Zar/Jpy now or you can wait for an inclined support of rising wedge to be broken.
Profit Targets:
8,0
7,81
**If the support of wedge is broken, our ultimate profit target will be 7,1.
Rising wedge example:
i.investopedia.com
Stoploss:
8.4
Trade with less leverage(5x,10x) , this is a long term trade.
Have a nice day,
Berk
ZARJPY: Approaching the Resistance.The price action has been narrowed down from a Channel Up to a Rising Wedge on 1D (RSI = 63.891, MACD = 0.106, Highs/Lows = 0.0795). Technically every pull back up to 8.000 is a buy towards the 8.550 Resistance (ext. 8.876).
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