What do you think about the NZDJPY?

Are you currently trading the NZDJPY? Because I’m thinking about longing it. There are two things that I like about the NZDJPY:

  • If you take a look at the long term charts, its clear that it was rejected from an important support level.
  • If we get a BOJ intervention, it will be on our favor.

 

Here is the 15M chart:

My trading plan:

Wait for a retracement to the short term support level (lower green level) and if it forms a significant pattern with upward pressure, I’ll be going long.

What do you think?

Trade Safe!

Raul Lopez
Forex Course

forex, NZDJPY Analysis


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .