NZD/JPY

Monthly

NZD/JPY should be bearish for the next week.
Sold @ 85.369, TP 1 @ 84.4, TP 2 @ 81.9, ISL @ 87.419.
Entry chart is H4, you can see a lower high in H4.

i am waiting to buy it Mr Anonymous!!!

I'm not so sure anymore when I read your post. The reason is the JPY's commercial's net positioning which is 4000 net positive which means that JPY weakens. So because of the strong Open interest you can be right. I'm still learning and try to improve. Thanks for your reply.

It may pullback more ..no idea but the trend looks sttong and I believe the fundamentals favor the nzd over the jpy and looking at the cot the commercials are quite long the nzd compared to being short the jpy.

The one worry however , is that BOJ may be getting closer to intervening due to the strengthening UJ.....that is something to keep in mind.

It's time you people start learning how the market works and not all the usual bullshitt on forexfactory.

I placed a small pecker order on nzdjpy and is now creating a bottom. 85.34 is where it's at.

***The order is a SELL position...Watch the market TRAP me and create a bottom***

Zoom in on the market and watch how it behaves. I am literally staring a turning of the ENTIRE market with just that tiny unit.

Things to consider and take into account. Market was trending hard to the downside over 60 pips

Market is over sold.

"True" volume is light.

Zoom in and see that long bar @ 22:36 central time that is the market deflecting off my position.

Unless true volume comes in I will be the bottom for the time being.

I did add more to the position and as you saw it was a good trade of about 50 pips and repeated the move last night.

The key takeaway is:

Over 90% of the market's moves are hollow/random moves. In a nutshell, the algorithm is just looking for liquidity. With just 10 units I was able to stop the falling trend and have it move sideways and reverse a bit....if it had been a stronger pair it would've likely reflected higher. So you as a trader are looking for entries...Ideally, you don't want to be the catalyst unless you're critically committed to entering that trade. The positive aspect of this...I WANT it to reverse somewhat to get my position set. So let someone else create the entries for you.

This is the reflex the currency market will have in it's naked form with low liquidity. This is why you don't want to chase a move because the algorithm is built to do what I explained. Unless you are prepared and committed to a direction....you are putting yourself in harms way or at lest in a stressful situation if the broader market isn't actually behind the move down/up. Volume analysis is just as hollow as the move as it is tick volume and nothing more.

The above is regarding the intraday trade

Hello! 4H TF

Position traders can buy at 85.859. Reason for that trade are economic growth data of both countries.

Amazing day trading this pair from its daily high. All but one position now closed. I will trail the stop down behind each 1H candle. Fun times, lets see how it goes

Last position just closed with 80 pips. A good day, and maybe the start of a bigger move south. Will be watching how this weeks NZD news plays out

Current price is 81.90, expect this to touch 85 some time this month. Quality price to buy, lots of pips, interest-bearing and low margin to maintain.

NZDJPY is trading within a wide horizontal trading range on a daily.
The price was stuck on its upper boundary for 2 weeks.
A double top pattern was formed.
The price has successfully violated its horizontal neckline last week.
I believe that the pair may go lower.
Goals: 82.4 / 81.6

Audnzd opportunity knocking...were going down

Long NzdJpy

NZD/JPY (4H): The price is now near the resistance area, forming a lower high. We may see a continuation of the downtrend this week

NZD/JPY is still consolidating at the resistance zone. If the price breaks through the local support level, we may see the continuation of the downtrend.