NZDJPY Wave Analysis 8 November 2024
- NZDJPY reversed from resistance level 92.00
- Likely to fall to support level 90.40
NZDJPY currency pair recently reversed down from the resistance level 92.00, which is the upper boundary of the narrow sideways price range inside which the pair has been moving from September.
The resistance level 92.00 was strengthened by the upper daily Bollinger Band and by the nearby 61.8% Fibonacci correction of the downward impulse from July.
NZDJPY currency pair can be expected to fall to the next support level 90.40 (lower boundary of the aforementioned price range).
NZDJPY trade ideas
NZDJPY to breakdown?NZDJPY - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
Bearish divergence is expected to cap gains.
A lower correction is expected.
We look to Sell a break of 92.10.
We look to Sell a break of 92.10 (stop at 92.50)
Our profit targets will be 91.10 and 90.85
Resistance: 92.50 / 92.80 / 93.20
Support: 92.00 / 91.60 / 90.90
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NZD/JPY Consolidation: Bullish Breakout Likely Above 92.100The NZD/JPY pair is in consolidation, with a bullish setup emerging if it can break above the key 92.100 resistance. A breakout here could drive the pair toward the next target at 93.00, signaling a strong upward momentum shift. Economic factors, including Japan's continued low interest rates and New Zealand's economic stance, support this potential move. Traders should watch for a clear move above 92.100 for confirmation of a bullish trend.
NZDJPY - 4hrs ( Buy Trade Target Range 250 PIP ) 🟢 Pair Name :NZD/JPY
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
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🟢 Key Technical / Direction ( Long )
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Bullish Break
91.900 Area
Reasons
- Major Turn level / D
- Visible range Value
- Pattern Target
- Day / week high
Bearish Reversal
94.300 area
Reasons
- Major Turn level
- Visible Range Hvn
- pattern Target
- Major Choch
NZDJPY: Rectangle trading calls for buying.NZDJPY is neutral on its 1D technical outlook (RSI = 52.566, MACD = 0.350, ADX = 19.993) as it's been trading sideways inside a Rectangle pattern since September 27th. The recent rebound happened on the 4H MA200 and today it took a rejection on the 4H MA50. One more test of the 4H MA200 is possible but overall it is more likely to see an upward test of the lower Resistance Zone (TP = 91.800).
See how our prior idea has worked out:
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NZDJPY Will Explode! BUY!
My dear friends,
Please, find my technical outlook for NZDJPY below:
The instrument tests an important psychological level 91.135
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 91.469
Recommended Stop Loss - 90.960
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
NZD/JPY SHORT FROM RESISTANCE
Hello, Friends!
The BB upper band is nearby so NZD-JPY is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 90.171.
✅LIKE AND COMMENT MY IDEAS✅
Good Buy chancePrice is tryin to return to it's upward channel and this kind of consolidating means BUY position for me , on 30 OCT i prefer to buy NZDJPY .
Currently, the sentiment in the NZD/JPY market is estimated as bullish. The 14-day RSI reading is 62.51, suggesting neutral conditions. In the last 30 days, the volatility of the NZD to NZD has been 0.44%.
The current NZD to JPY exchange rate is above the 50-day SMA, which is currently sitting at ¥ 90.02. The current rate is below the 200-day simple moving average, which is positioned at ¥ 92.57.
NZDJPY What Next? SELL!
My dear followers,
I analysed this chart on NZDJPY and concluded the following:
The market is trading on 91.609 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 91.230
Safe Stop Loss - 91.834
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
NZDJPY BUYERS COMING IN? Current Market Conditions: Look at the overall trend—are we in an uptrend or downtrend? If the market is trending upwards, it might be a good time to consider buying.
Technical Indicators: Check indicators like RSI or MACD to see if the pair is overbought or oversold. An oversold condition might suggest a potential buying opportunity.
Support and Resistance Levels: Identify key support levels where price might bounce. If NZD/JPY is near a strong support level, a buy could be justified.
Fundamental Analysis: Look at economic news from New Zealand and Japan. Strong economic data from New Zealand could support a buy.
Risk Management: Always define your stop-loss and take-profit levels based on your trading plan.
NZDJPY → Consolidation before breakout and distributionFX:NZDJPY is forming a pre-breakdown consolidation amid the weakening of the Japanese national currency. There is a chance to get out of the accumulation...
The potential, if the bulls hold the victory and go outside the channel, is quite high. Above 92.00 there is a free way to 94.4 - 98.87, there is no resistance that can prevent the movement.
BUT, for this to happen, the buyers need to be able to utilize their potential.
On H4, a global range of 91.9 - 86.5 is forming. But, more remarkable is that a strong consolidation is forming near the upper boundary of the channel, hinting at a possible upside realization.
Resistance levels: 91.975
Support levels: 90.788, 90.03
Technically, there is no pullback at all from the resistance at 91.97. Accumulation before distribution is forming. A break of 91.97, which may happen soon, may trigger a strong bullish momentum
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDJPY ;)
Regards R. Linda!