NZD/JPY Technical Analysis
- Huge V shaped reversal
- MEGATREND jaws are up and open
- Strongly bullish
- 87.27 and 88.00 are TPs
MEGATREND MAs: Bullish
D1 Chart NZD/JPY
- Point 1 V shaped reversal
- Double bottom
- Bullish jaws and angle of the MAs
- Entry zone
- Final TP
The NZD/JPY has 112 pips of ATR for the last 14 days. It indicates greater volatility and possibility to make good pips on bullish trends. Trend is strongly bullish and we can see that the MAs are very clear with that. MEGATREND MAs are pointing up, the angle is very obvious and the momentum is very strong. Adding to this is a bullish fake out pattern + strong momentum candle which is screaming buy.
It’s the NFP Monday and the JPY should be moving lower. Adding to it, the NZD is also strong. V shaped reversal points to 87.27 and 88.00. The entry is a rejection of the upper MA and the breakout of the previous high. Marubozu candle formed on Friday. It also is a fakeout bullish pattern so we have a bullish confluence. Today’s ATR target should be hit.
This analysis, all the patterns and all entry signals and targets are a part of the Megatrend system and a trading course. I am currently running 2 long positions in the NZD/JPY as I am bullish on this market. My Telegram group recently received 2 long signals on NZD/JPY.. Daily timeframe is clear and concise.
Cheers and safe trading,
Nenad
Summary of October trading results is HERE (click to see)
Cheers and safe trading,
Nenad
