I had a trade plan on this pair sometime last week. It was solely based on a technical analysis I did. Should we break the monthly pivot look for pull backs on lower time frame charts. Here’s the initial plan: NzdJpy Long Setup

NzdJpy Daily Chart

Price has moved just over a 100 pips since we had a buy off at 79.200. It is currently at a key level of resistance at MPP (80.500). Though there are bears at this level, I am anticipating to see a break beyond the central pivot which would take us all the way to another key level of resistance at 81.00.

NzdJpy H4 Chart

Price has been ranging for most of the week. A move that broke the top of the range was recovered during the Asian session. A break and retest at 80.500 would be a good opportunity to buy.

NzdJpy H1 Chart

Price came off today's DM2 pivot, my entry is from yesterday's DPP, a break at DR2 is what I am waiting for. The next level of resistance is seen at 81.000

2 thoughts on “NzdJpy long setup Update”

  1. skylinecpp says:

    Sir how did you do about the support and resistance I need help pls

  2. Tsholanang Tsholanang says:

    I drew them manually using rectangles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.