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New Zealand Dollar / Japanese Yen

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NZDJPY trade ideas

NZD/JPYKey Points of the Double Top Pattern 1. **Bearish Reversal Signal**: Indicates the end of an uptrend and the start of a downtrend. 2. **Two Peaks**: The pattern features two peaks at approximately the same price level. 3. **Trough (Neckline)**: The decline between the peaks forms a support level known as the neckline. 4. **Breakdown Confirmation**: The pattern is confirmed when the price breaks below the neckline. 5. **Trading Strategy**: - **Entry Point**: Enter a short position when the price breaks below the neckline. - **Stop-Loss**: Place a stop-loss order above the second peak. - **Target Price**: The target price is determined by subtracting the height of the pattern (distance from peaks to neckline) from the neckline. Example - **First Peak**: $100 - **Trough (Neckline)**: $90 - **Second Peak**: $100 - **Target Price**: $90 - ($100 - $90) = $80 Summary - **Clear Reversal Signal**: Indicates a shift from uptrend to downtrend. - **Defined Entry and Exit**: Provides clear points for entering and exiting trades. - **Risk Management**: Uses a stop-loss to manage risk effectively. The double top pattern is a reliable tool for identifying bearish reversals and setting up short trades with defined risk and reward.
Short
by B9A-88652-NisarAhmad
2
DeGRAM | NZDJPY fibo clusterNZDJPY is creating a harmonic pattern where the D point completes right at the resistance level and fibo golden zone. Price is approaching the previous high, where the market dropped. The market created a kill zone where we have a harmonic pattern, psychological level, fibo extension level, and upper channel boundary. We expect a bearish move from the Fibo cluster zone. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Short
by DeGRAM
1
NZDJPY:06/04/2024 NEW IDEA| Setupsfx|Dear Traders, The Japanese Yen experienced a significant decline last month, reaching a record low as the Bank of Japan refrained from intervening in the market. Consequently, the prices of JPY pairs have exhibited a strong bullish trend. We anticipate that this bullish momentum is likely to persist. In light of this analysis, we have identified an optimal entry point that presents an opportunity to potentially gain 400-500 pips under normal market conditions. However, it is important to acknowledge that there is a possibility of a slight price drop, which could result in the price falling within the middle of the buying zone. Nevertheless, it is also worth noting that the price could continue to rise if the US Dollar Index (DXY) demonstrates any bullishness in the market. As always, we emphasise the importance of risk management strategies when engaging in trading activities. Wishing you a profitable week ahead and safe trading.
Long
by Setupsfx_
32
NZDJPY I Strong bearish divergence indicating potential shortWelcome back! Let me know your thoughts in the comments! ** NZDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
3
NZDJPY - 4hrs ( Sell Trade Target Range 240 PIP ) Pair Name : NZD/JPY 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( Short ) Type : Mid Term Swing ——————————— Bearish Reversal 95.500 Area Reasons - Major Turn level / M - Visible Range Lvn - Counter Trend - Volume Dv - P Month High - 15 Min Choch - Fixed Lvn - Channel Upper Band Bullish Reversal 93.000 Area Reasons - Major Turn level / W - Pattern Target - Fibo Golden Zone - Visible range Hvn - Channel Middle Band - Choch Zone - Fixed Range Lvn - Quarter High Area
Short
by GoldenEngine
3
NZDJPY - A Massive Trade. Do NOT Miss! NZDJPY is at the final stages of the ending diagonal. The move we're about to see will be a MONSTER move. We are looking at a potential 1500pip move to the downside... atleast! We are currently in an ending diagonal, made up of 5 waves consisting of 3 subwaves each. We are in 5th wave now, subwave C and looking for a reversal very soon. Trade Idea: - Watch for reversal price action on lower timeframe - This can be trendline breaks, BOS etc. - Once entered, SL should go above the highs - Targets: 89.5 (600pips), 85 (1100pips), 81 (1500pips) We have an upper limit of wave 5 at 98.5 so the closer we get to that, the better it is. However, we are not anticipating price to go that high. What do you guys think? Goodluck and as always, trade safe!
by WicktatorFX
7