Jump to content

NZDJPY offers good risk/reward If the set up completes.


PIA_First_IC

Recommended Posts

With the medium-term outlook in NZDUSD still offering a mild downward bias, NZDJPY offers good risk/reward If the set up completes.

 

Weekly:  After a strong rally from Q4 2017 the cross has consolidated for the last four weeks. The close of this week’s candle will be important. A low close (below 80.00) and we have a bearish outside bar. This should lead to more downside movement towards the trend of higher lows at 76.30

NZDJPY IG W.png

 

Daily: Although we have broken the trend of lower highs, price action has formed an Evening Star. This often highlights the top of as trend.

NZDJPY D IG.png

 

Intraday (four hour) – Two scenarios:

  1. We move directly down to the 261.8% extension at 79.44 from 81.56-80.75. With bespoke support at 79.32, I think we will bounce from here and be able to gain a better short entry near 80.50
  2. We consolidate a move towards previous resistance at 81.30, this in turn making a right shoulder of a bearish head and shoulders pattern.

nzdjpy ig 4.png

 

In regards to the PIA analysis, no representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • General Statistics

    • Total Topics
      23,569
    • Total Posts
      96,877
    • Total Members
      44,142
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    James82
    Joined 29/11/23 17:02
  • Posts

    • Investing in crypto could be challenging especially the Fear of Missing out Lambo. This mostly affect traders trading strategy and ideology. Predicting the right time to buy is always cumbersome and that is why many analyst advise DCA because it curtails FOMO and gives you a long-term crypto trading mentality. In crypto Dollar Cost Averaging involves investing the same amount of money in a target token at regular intervals over a certain period of time, regardless of price. This will help to control volatility on your portfolios and minimize FOMO For example when you decide to invest $100 on a token and invest $10 daily or weekly or monthly till you fulfilled you $100 target investment on the token irrespective of the price of the token. This strategy helps a crypto trader to build his portfolio over the long term thereby he/she is not bothered by short-term volatility in the broader markets. This strategy mostly favours low-budget traders in building a strong portfolio but the problem most normally encounter is exchange minimum trading amount. One analyst advised on how to mitigate this was to accumulate on exchange that has lower trading fees and later send to where you desire to hold. He also noted that some of this exchanges are good in listing good projects for you to be among the early birds. Do you think DCA is the best method to accumulate token and which exchange offers the lowest tradeable balance and trading fees?
    • DXY   now wait for confirmation or rejection 
    • Messi has written his name in the sands of time. I dare say he is immortal, he has challenged and excelled all limits to the point he is now the new limit. This partnership is GOATED cos it has brought more exposure for the exchange considering MESSI's popularity.    
×
×
  • Create New...
us