I posted NZDJPY long setup yesterday, expecting to buy this pair from Fibonacci 38.2-61.8%.
However, this pair just kept rising with little pullback!
It may be a good opportunity to try “Ride the Five”. Below is the daily chart of this pair.
If we take a Fibonacci, the typical buy zone will be 77.20 – 77.65. However, if the trend is super strong, you should also consider to long from 5 EMA.
FYI, on Ichimoku, NZDJPY is the only YEN pair that is enjoying the sunshine, floating above the cloud.
Yes, for Carry Traders, your season may be here…
YJ Baik – Forex.Today @ Tokyo