Among all Yen-cross pairs, NZDJPY is the first pair challenging to break the clouds and seek for the sunshine, in Ichimoku charts.

I understand some of you are already longing this pair. But if not, your chance is not over yet.

Daily Ichimoku

As you can see, the current candle is almost touching the top of the cloud, and getting ready to break it. There are 2 more signals in Ichimoku though. Tenkan line (in red) is going to golden-cross Kijun line (in blue). That's the 2nd signal. 3rd signal is... when the delayed line (in purple) golden-cross prev candles (21 candles ago). I think all 3 signals are almost ready.

H4 (Regular) Chart

On H4 chart, it is showing the range bound. Notice the resistance line at the current candle is overlapping to the clouds in Ichimoku. Thus I would like to wait and see one more Higher High, then I will enter Long trade from pullback. Target should be MR2 (79.50). MPP->MR2.

About The Post

About The Forex Analyst

YJ is a technical analyst for the Asian Office of Forex.Today He has been trading the Nikkei and Forex since 2007. He now specializes in the Japanese Yen. YJ also worked for CitiBank to develop their realtime FX trading systems.

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6 thoughts on “NZDJPY – getting ready for Long”

  1. Brendon Davis says:
    August 29, 2016 at 11:47 pm

    Great work, love the charts, would love a lower entry say 73.3-5, Jpy to weak at this point.. 🙂

  2. Daniel Chan - Forex.Today says:
    August 30, 2016 at 12:32 am

    Excellent analysis . Thanks YJ . I have 2 position aiming for loner term 72 and 73 entry both at BE now . Target end of the year.

    1. YJ Baik - Forex.Today says:
      August 30, 2016 at 10:13 am

      Good for you, Daniel!

  3. Miles says:
    August 30, 2016 at 2:57 am

    Great analysis YJ!
    You wrote “I would like to wait and see one more Higher High, then I will enter Long trade from pullback”,
    may ask you what’s your trigger signal? On What timeframe do you enter?
    Thank you

    1. YJ Baik - Forex.Today says:
      August 30, 2016 at 10:15 am

      Hi Miles, I am checking H1 chart. The price just made Higher High now. (74.3) I will wait for the pullback, Fib38.2-61.8%, then Long!! 🙂

      1. Miles says:
        August 30, 2016 at 12:18 pm

        Thank you YJ

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