NZD can do nothing to defend themselves against the JPY, its all attempts to recover failed. Apparently, the failure rates on the level of 83.3 still happens. In the breakdown of the level of support we join the bears.
The price is below the moving average 200 MA and 20 MA, indicating a lowering trend.
MACD is strongly below the zero line.
The oscillator Force Index in correction, but below the zero level.
Should price action for the NZDJPY breakdown below 83.3 the following trade set-up is recommended:The price is below the moving average 200 MA and 20 MA, indicating a lowering trend.
MACD is strongly below the zero line.
The oscillator Force Index in correction, but below the zero level.
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position 83.3
- Take Profit Zone: 81.36
- Stop Loss Level: 84.10
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position 84.1
- Take Profit Zone: 85.85
- Stop Loss Level: 83.5