I posted NZDJPY trade plan yesterday, and slowly it has been cooked, and ready.
With this H4 chart, I suggested 4 possible buy zones. Currently the price came down to BUY ZONE 1, and we need to monitor it carefully. Stochastic looks nice crossing up at 25%.
However, looking at Hourly chart, it is still showing Lower Lows and Lower Highs.
Therefore we need to see Higher High so that we can buy from the next Higher Low.
If we don’t see Higher High, then let’s just see it off.
We can still wait for the buy opportunity at BUY ZONE 2 (Fib 38.2% area).
Hope this analysis helps.
YJ Baik – Forex.Today @ Tokyo