The "Japan Tankan Large Manufacturers Index Q1" should be the catalyst to move NZDJPY higher if the consensus turns out to be as low as it is believed to be. We can possibly see a rally to 90.00! However, the market does what it wants so nothing is guaranteed so never expose yourself beyond your risk. tolerance.
Keep it simple! In my experience, impatience causes the most losses.
It's as clear as day, you can't NOT see it! AUDUSD has been over-extended for some time now. NFP should be the catalyst to begin its weakness.
IF CADJPY respects this area of Resistance, we can see the beginning of a possible change in trend to the downside. The Green Lines represents Weekly levels, an area we should pay attention to if price returns to that low, which is a strong possibility.
So I pulled the Fib retracement tool on the 30M timeframe and price currently is sitting at both the 200 EMA as well as the 38.2 Fib level. If price can find a comfortable seat here it is possible to see it return to the 1.27340 levels or higher. If you wanna enter now, use max 3% risk exposure with an S anywhere below 1.26215. Happy Trading!!
WIll price go further?? Lets find out!
Looking for a continuation to go lower
USDCAD has broken the lower channel of its previous bull run strongly! Currently at the end of its corrective phase and now we look for Short positions.