NZD/JPY.... Good Opportunity !!

Hello Guys, 

Posting on Blog after a Long time. 

Today's Post will be : NZD/JPY 

Let's Go to Charts .. 

Monthly Chart First 

Monthly Chart Shows a Stiff Resistance of falling Trendline, and a Sharp Pin Bar Formation near Trendline in Last Months Candle. Clear Indication of weakness in the pair. 

Trendline Resistance is close to current price and Lower Trendline Support is at a Good Distance, Providing us a Good Risk Reward for the Trade.

If the Support is broken, we might see lower levels and a continued weakness. Targets might be much lower, but we will review near that level. Not Suggesting any speculative targets as of now. We will play between the trendlines only. 

Moving Average Crossovers are suggesting weakness, Price is trading below the 50SMA, indicating weakness. 

Moving Ahead, Let's See Weekly Chart : 

  

The Weekly Chart Supports Downside possibilities. Again a Pin Bar is Visible near the Trendline on Weekly Chart also. We might see some upside to support higher selling entry with a smaller Stoploss and a Bigger Target for the pair. The Moving Average Crossover is expected to turn bearish soon. 

Daily Chart : 

Clear Bearish Chart, Short Term Trendline Resistance is sustained and price is not able to cross the Resistance. On Top Price is Getting Resistance at same level since last few days. There is a Support of Smaller trendline and We will get a strong Sell Below that Support. Moving Average Crossover suggesting start of the weakness and bear trend in the pair. 

Remember, we have applied different Moving Average Combination on every chart according to our study. Entry and Exit levels are Indicative levels, Manage Your Entries and Trades according to Market Conditions. 

Follow Strict Risk Management and Do not Over trade. 

The Recommendation : 

NZD/JPY 

 

Sell Limit : 81.40 & 82.40

Stoploss : 83.40 

Take Profit : 79.60 - 77.80 (We will review Below 77.80) 

Trade according to your Risk Management, Trade Might Take Longer Duration to complete targets, so keep Smaller Trades.

All the Best !!


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