20.12.24 Morning ForecastPairs on Watch -
FX:GBPAUD
FX:EURUSD
FX:NZDJPY
A short overview of the instruments I am looking at for today, multi-timeframe analysis down to what I will be looking at for an entry. Enjoy!
NZDJPY trade ideas
NZDJPYThe potential BUY scenario for the pair
The pair is under observation as it approaches the designated BUY zone on the chart.
NZDJPY bottomed being formed. Huge long-term buy.The NZDJPY pair gave us an excellent sell signal back on our July 10 analysis (see chart below) and not only hit our 95.580 Target but broke below and invalidated the medium-term Channel Up:
The long-term Channel Up however, is still intact and it is evident on the 1W time-frame where the July - August sell-off found support and stopped exactly on the 1W MA200 (orange trend-line).
That was the first strong long-term buy signal. Since then, the price has been consolidating within the 1W MA50 (blue trend-line), which has already rejected the uptrend multiple times and the bottom (Higher Lows trend-line) of the Channel Up.
The second buy signal came this month, as it made a Double Bottom on the Higher Lows trend-line of the Channel Up. This whole sequence is very similar with the bottom formations of Jan - April 2023 and December - February 2022. Both started new Bullish Legs and never looked back once the price broke above the 1W MA50.
So the confirmed buy signal for this pair will be if a 1W candle closes above the 1W MA50. If that happens, we will turn bullish with our Target being 102.000 (+18.31%, the minimum Bullish Leg rise within the Channel Up).
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Bearish drop off pullback resistance?NZD/JPY is rising towards the pivot which is a pullback resistance and could drop to the 1st support.
Pivot: 88.97
1st Support: 87.88
1st Resistance: 89.47
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.
NZDJPY: Set Your Sails for a Buy Opportunity!In potential trades like NZDJPY, aligning our moves with the dynamic and proven EASY Trading AI strategy unleashes a promising opportunity. 📈 With clear direction set to Buy, entering the trade at a price of 88.607 feels more than right—it becomes a strategic play in the unfolding market scenario.
But why is this pair expected to take off? Several contributing factors take the stage. Firstly, the broader economic climate is favorable for higher yielding currencies like NZD amidst global risk appetite, pushing it against yen safe-haven appeal. This trend reflects confidence among investors in coming economic balances.
Our Take Profit level stands at 88.89866667, offering a solid potential return. It's not just a target; it echoes market momentum, likely driven by positive economic data or buoyant sentiment around New Zealand’s growth forecasts.
On the flip side, allowing room for calculated risks is essential. Maintaining Stop Loss at 88.19266667, we navigate uncertainties while safeguarding our trading positions.
This strategic blend of risk management and profit pursuit is what makes the EASY Trading AI model both compelling and reliable. So, are you gearing up to seize this NZDJPY move? Happy trading! 💹
NZDJPY Long4hr: Reversal pattern at support
1D: Bottom of trend channel + Bullish engulfing + Class A RSI bullish divergence
1W: Uptrend
Sidenotes: 1 hr short term potential downside towards Golden Pocket entry @ $87.90.
NZDJPY SHORTLooking to sell NZDJPY as soon as price breaks below the AOI zone. Catching 50pips out of this move won't be bad.. Fingers crossed.
Heading into pullback resistance?NZD/JPY is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support.
Pivot: 90.09
1st Support: 86.65
1st Resistance: 92.32
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.
NZDJPY: Finally a Bullish Confirmation?! 🇳🇿🇯🇵
Update for my recent post for NZDJPY.
The pair finally looks bullish after a test of a key daily support.
My confirmation signals are a double bottom pattern and
a bullish imbalance candle on an hourly time frame.
We can expect growth at least to 87.8
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NZDJPY: Change of Character Confirmed?! 🇳🇿🇯🇵
NZDJPY confirms a bullish reversal on a daily.
The price violated both the resistance lines of a falling channel
and a horizontal range.
Bullish breakout of the underlined blue resistance also is a valid
Change of Character.
The market may go much higher soon.
Next resistance - 89.75
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BUY NZDJPY - How to spot high probability set upsTrader Tom, a technical analyst with over 15 years’ experience, explains his trade idea using price action and a top down approach. This is one of many trades so if you would like to see more then please follow us and hit the boost button.
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NZD/JPY Bullish Cup and Handle: Targeting a 60-Pip Move The NZD/JPY pair on the 1-hour chart has formed a bullish Cup and Handle pattern, signaling a potential upward move of approximately 60 pips with a target around 89.260. Traders may look for confirmation of the breakout above the handle resistance to enter a buy trade.
However, caution is advised, as a bearish harmonic pattern could emerge on the 4-hour chart, potentially leading to a reversal after the target is achieved. Monitoring price action and higher timeframes is recommended to manage risk effectively.
NZDJPY FORECASTThis is the pair that I look for today! It one of the higher probability setups that we have early on this week. When I look the higher timeframe and the 4H, I get the message that this is the first big structure since price broke all potential lows. Price broke above the highs of the correction which shows that liquidity has been grabed and price is ready for the move to the downside. Let's look it with a close eye!
NZD/JPY 30-Minute Chart – Bearish FocusThis chart highlights a potential selling setup for the NZD/JPY pair on the 30-minute timeframe. Key insights include:
Supply Zone at 88.800:
Price recently tested a key supply zone near 88.800, where strong selling pressure is likely to emerge.
Bearish Ascending Wedge:
The current price action is forming a small ascending wedge pattern, a bearish reversal structure, indicating a potential breakdown.
Potential Sell Setup:
A break below the ascending trendline could confirm selling momentum.
The first target is the 87.600 level, with an extended move toward the demand zone around 87.200.
Risk Management:
Stop-loss placement above the supply zone near 88.800 is recommended to protect against invalidation.
This setup provides a bearish outlook, with sellers waiting for confirmation of a trendline break before entering short positions.
NZDJPY Is Going Down! Sell!
Here is our detailed technical review for NZDJPY.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 88.668.
Considering the today's price action, probabilities will be high to see a movement to 86.980.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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NZD-JPY Local Short! Sell!
Hello,Traders!
NZD-JPY retested a horizontal
Resistance of 89.2400 from
Where we are already seeing
A local pullback so a further
Bearish move down
Is to be expected
Sell!
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Check out other forecasts below too!
NZDJPY Upside Momentum ContinuesHello,
OANDA:NZDJPY has shown upward momentum, which is likely to continue as long as the price remains above the 1W/1D pivot points. In the long term, this pair is still considered a buy.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
How I pulled 2R on NZDJPY sellHello
I had an idea that the SL hunt for this head and shoulders will happen.
With this trend and its retest the plan was easy.
NZD/JPY BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
NZD/JPY pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 12H timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 86.825 area.
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NZD_JPY BULLISH BREAKOUT|LONG|
✅NZD_JPY is going up now
And we are already seeing a
Bullish breakout of the key
Level of 88.80 which is now
A support which reinforces
Our bullish bias and we will
Be expecting a further move up
LONG🚀
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Bullish Move on NZDJPYThis is the last bit bullish movement that I am interested in for this trade. I'll waiting on a daily candle close 88.985- or higher, then a slight pullback of 10-30 pips before heading up to the first TP of 89.150. Great trading week ahead.
NZDJPY-bias short Bearish indications:
Major resistance respected.
Head and shoulder pattern in 15 min frame.
Bearish divergence.
Sideways trend
MA 200 trend respected in 2 hr time frame.
Trade plan bias short @ 88.71
SL:88.95
TP1:88.46
TP2":88.24
