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New Zealand Dollar / Japanese Yen

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NZDJPY trade ideas

NZD/JPY Trade Setup: Navigating the Fibonacci SequenceDaily Chart Analysis: The daily timeframe for OANDA:NZDJPY shows a pair trading within an established uptrend, guided by a rising trendline. Recently, we have seen the price retrace to the 0.75 Fibonacci level at 90.679, which may serve as a potential launchpad for the next leg up. Above, an unfulfilled Fair Value Gap (FVG) looms, hinting at a target for bullish price action. 4-Hour Chart Details: The shorter-term 4-hour chart gives us a more granular view of the price hugging the 0.75 Fib level, displaying hesitation within this zone. This consolidation is key to our strategy, as a breakout could indicate the continuation of the upward trajectory. Trade Idea and Levels: Entry Point: We're eyeing the 0.75 Fib level (90.679) for a possible entry, watching for bullish confirmation in the form of a 4-hour candle closing above this zone. Stop Loss: A stop loss could be placed below the trendline and recent swing low at 90.170 to protect from any unexpected reversals. Take Profit: The primary target resides at the next significant FVG around 92.204, with potential to extend gains if bullish momentum persists. The NZD/JPY pair's adherence to Fibonacci levels and FVGs presents a structured approach to catching the next wave. As we wait for confirmation, we keep a close eye on macroeconomic factors that could sway JPY pairs.
Long
by Shyx92
6
NZDJPY to continue in the downward move?NZDJPY - 24h expiry The primary trend remains bearish. The sequence for trading is lower lows and highs. We have a 50% Fibonacci pullback level of 90.85 from 91.25 to 90.20. Preferred trade is to sell into rallies. Bespoke resistance is located at 90.80. We look to Sell at 90.80 (stop at 91.10) Our profit targets will be 90.05 and 89.90 Resistance: 90.80 / 91.10 / 91.40 Support: 90.20 / 89.90 / 89.60 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
NZDJPY, Trendline BreakoutNZDJPY on the daily timeframe indicates a potential bearish trend. The price has recently breached below the trendline support, signaling a probable breakout. This breach suggests a weakening of buying pressure and a potential shift towards selling momentum. As per this analysis, the target for the bearish movement is anticipated to extend towards the psychological level at 88.00. Traders may consider monitoring further price action for confirmation of the downtrend continuation.
Short
by DNP-FX