News event of the day that could affect this trade:
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. (NZD) Trade Balance
. (JPY) Retail Trade
. (JPY) Industrial Production

Technical Analsyis
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NZDJPY

NZDJPY Daily

NZDJPY bounced off from a strong level of support yesterday. As a bull on JPY pairs, I'd look for opportunities to buy on smaller TF.

NZDJPY 4HR

On 4hr , price took off from WM2 - bulls buy zone for the week. This could be a nice swing setup for the week with profit target at WM4 level.

NZDJPY 1HR

On hourly, price is trading at role reversal area in confluence with 81.00 psych and 38.2 Fib level. I'd closely watch for bullish reversing price action to go long again on this pair.

2 thoughts on “NZDJPY Daily Long setup – 28th Feb 2017”

  1. Tsholanang Tsholanang says:

    Sure Joe. I am actually looking for entries on Jpy pairs that I missed yesterday. Will be on the lookout for this one.

  2. Ryan Gandalf van Jaarsveld says:

    Hey Joe

    Trade plan makes sense – would have preferred price to have found support at WPP as the pattern I would be looking for would be bulls entering at WM2 and then buying the pullback at WPP. Now we have bears selling at WM3 looking to sell the pullback at WPP. Having said that price is range bound and stoch on daily, H4 and H1 says up with bulls having entered at DM2. I would like to see a break above WPP and WPP being tested as support as I am concerned about buying into resistance – especially with WPP and DPP confluence. Nice entry for a swing trade at 80.50 with a target of 82.

    Best
    Ryan Gandalf van Jaarsveld
    Skype Ryan.Gandalf
    e-mail [email protected]
    Coach MetaTraders.com
    Analyst Forex.Today

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