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Nzdjpyidea

NZD/JPY Trading in Upward Channel.Hello traders, NZD/JPY is trading at 76.24. The price is trading in upward resistance and support channel and rebounding back from its resistance level. As the price has already rebound back from its resistance level, if it breaks 76.21 price level it can touch support level. So, the entry price for short will be 76.21 first target will be at 75.81 and second target at 75.20. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Short
by rishililawat5
NZDJPY long trade ideaPlan: wait for the price to bounce off from trendline or support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
NZDJPY, daily tf, bulls in control for nowHello my friends, Another setup for next week is NZDJPY pairs. As you can see NZDJPY pretty much bullish since breaking above the 5 months flag pattern. For me, there is still further upside for this pair. The measured objective of that 5 months flag pattern was around 800-900 pips in my opinion. We could see NZDJPY continue to the upside until 76-77 area. Long/Buy positons will be in favor for now and we will only look to buy this pair. As you can see price right now consolidating inside a possible bullish continuation pattern right now. This could be a pennant / flag pattern. We will try taking a buy position at 73.35 area for our first buy position. This 73.35 area is our horizontal support and possibly flag/pennat pattern support. EMA-20 are also located near this area so pretty much it will be an area of confluences. As price continue higher and make another pattern which is favorable for bulls, we will add more positions. Buy limit NZDJPY 73.35 Stop loss 73.00 Take profit 75.65 (6.5 R) RR Ratio 1 : 6.5 Use only 1-2% risk Good luck
Long
by HayatoDragonFX
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