NZD/JPY

Getting my short here with the abc pattern that i spotted on weekend looks like is not the best idea.

I'm not sure if thw abc pattern is right or it will work but my short got closed on TP.

Hello Im new, i put some shorts from 8634, i hope retest 8600-8580 zone, and up again 8630, Regards.

regarding post 84

beatiful bearish pattern that has been confirmed in my chart

short @89,08

looking for the end of the july @88

Venceremos

That was well done picking the reversal, spinozagr, may I ask what pattern did you use?

sure... abcd pattern

i have forgotten this trade...

i am out a long time ago...but i see my sentiment is still valid...

If you do NOT have patience... thats the results--->poor profits

Anyway...

GL mate and thanx for asking

We are about to confirm a major double top formation the the daily timeframe and I am short this pair huge. Not that that makes any difference to readers but I will definitely say the probability for JPY going up is high and NZD going down is high. I cannot share information because it is paid info and it would be against the conduct for some.

http://www.fxstreet.com/analysis/exp...ry/2014/08/05/

http://www.fxstreet.com/analysis/fxr...ce/2014/08/06/

searching 87 4 hours

Just noticed a Head and shoulders pattern starting to form on the 4 Hour

We see what comes out of Japan CPI figures later this week,

Could go either way but I hope the nzd and jpy data takes us below 86 later tonight. Then I'll have much more confidence in the double top. We still have the potential to going back to 89 level for some side ways action or possibly a triple top. NZD has been oversold on the smaller timeframe and may look for a retrace. I'm still very bearish on this pair and eur/jpy. Good luck to all!

I love trading this pair. Has roughly half of the movement of the G/J, some big wicks on the candles which can lead to some quick scalps, and some nice money to be made on the interest. Held a few lots for a little over a week, managed to pull off a $2100 trade. Another good point about the wicks, is if you open a position, and notice it going the wrong way, it tends to double-back pretty quick, so you can break even or take a small loss, instead of the G/J where it just charges the wrong way for a while.

Anyone still alive in this thread? That 200 pip daily drop was just insane. No idea what spurred that movement. No news, nothing. I can understand a NZD interest rate cut, but there was literally zero indication that a move that big (don't think I've seen one like that this year, or ever) would happen.

Can't even blame the big boys in london and new york on it, since it happened during the aussie session.

Drop below 200-day SMA support and a subsequent break below an ascending trend-line support and 38.2% Fib. retracement level of Feb. to Apr. 2014 up-move, confirms continuation of the near-term weakness for NZDJPY. Below 86.00 mark, the pair seems vulnerable to continue dropping towards sub-85.00 level (84.70 region).
Pull-back towards 86.70 should be utilised to initiate fresh short positions.

We have seen the follow through I was talking about months back in regards to the double top technical formation with further yet to go to downside. First off there is a lot of fundamental data to backdrop this not only on the side of kiwi but global risk appetite as a whole. While long NJ is what you call a risk pair essentially, you can see gains in risk trends have been quite limited as of late. While yes long term we are meant to go up and up people just don't seem interested in buying at such high prices and it's more like they are entering in on a basis that they must to achieve there standard roi. Also with the next interest rate forecast on deck I also see gains capped in things like sp500. On the kiwi side of things there has also been a big drop in the overall hawkishness perception of there monetary policy. You can go out and read reports yourself but they gave a shit ton of hints saying price was too high for nzd and basically the overall hawkish monetary policy will be adjusted. Nzd I found is a pair that is always two steps ahead. It will always have data priced in to a tee. This is likely due to the great amount of investor interest placeed on the pair and it's application for high return on the interest rate among other currencies. So if you are short already then hold on you in for a great ride and long well good luck!

Thanks for the insight. I'll be sure to do some more digging into the news on the pair. I definitely need to start looking more at the long term movements as well. Sucked losing some money on a long I was holding, but overall I've made more than I've lost with this pairing over the past month.

Holding on to my short is some good advice though. Had I closed it earlier on today, I would've missed out on plenty of pips.