EURJPY Hits +200 Pip Profit: NZDJPY Long Idea
Wed 15th November 2023 : Daily Forex Strength Analysis
Today we’re looking at Trading Setups in:
- NZDJPY (Primary Focus Pair)
- NZDCAD (Covered In Video)
- EURJPY (Covered In Video)
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Our Interest (pending order)/Open Interest (live position)
| NZDJPY (Long) | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Alert Set | 90.20 | ||
| Entry Price | If Alert Is Triggered Place A Buy Stop Order At 90.30 | ||
| Stop Loss (Min) | 89.70 | -60 Pips | |
| Stop Loss (Max) | |||
| Profit 1 | 91.50 | +120 Pips | 1 : 2 |
| Profit 2 |
We have taken targets on our EURNZD and EURJPY trades for a combined 4.9R or +338 Pips.
Today we focus on NZDJPY as NZD rises to the top of our live forex strength vs weakness tables as the strongest currency.
JPY remains weak and highlights NZDJPY as a currency pair to watch for long ideas.
Price of NZDJPY on the Daily (D1) chart has breached previous D1 highs at 90.20.
If this bullish momentum continues we could expect the price to target weekly highs of 91.25.
H1 time frame shows price above the H1 50 moving average.
If price were to retrace towards this H1 50 moving average dynamic support, we can look for a rejection for a long idea in line with the bullish trend.
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Primary Focus Pair Chart:
Technical Observations:
- NZD is S1 and JPY is W2 on the day traders table.
- Price of NZDJPY traded through daily highs of 90.20.
- Trend traders could watch for price to test the H1 50 moving average for a rejection.
09:00 GMT/BST Forex Strength Vs Weakness Tables:
