This pair is technically in bear country with price on the Daily chart @ MM4 and between WR2 and WM4. Depending on the new pivots bears can go short on this pair and take it back to the central pivot.

NZDJPY DAILY

THERE IS NO MARKET, 21 & 55 ARE FLAT. PRICE CURRENTLY AT MM4 RESISTANCE. STOCHASTICS ALMOST OVERBOUGHT. PROFIT TAKING COULD SEE THIS PAIR FALL BACK TO THE CENTRAL PIVOT ACCORDING TO PIVOT THEORY.

NZDJPY H4

MARKET IS BULLISH, 21 ABOVE THE 55. PRICE CURRENTLY IN THE PROFIT TAKING ZONE BETWEEN WR2 AND WM4 RESISTANCE WHICH COINCIDES WITH MM4. STOCHASTICS IS OVERBOUGHT. I WILL WAIT FOR THE NEW PIVOTS TO GIVE FURTHER DIRECTION.

Leave a Reply

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