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Still as I previously said looking to short this pair, but now I have broader idea of price movement & expecting play in this fashion. This analysis is based on a swing pattern that I have seen before in other pairs. Current interesting level to short is 70.00 handle & candle close above 70.10-20 handle will invalidate the short move & then we step aside to gauge market behavior briefly. If sell trade kicks off then our target & next potential trade setup is @ 68.10 handle (Buy setup). A break & candle close below 67.90 will invalidate our long belief & we step aside momentarily. But if it plays out as per our expectation then hold & build positions for resumption of long moves on yen crosses. My analysis & beliefs are same for all the yen crosses but NZDJPY is giving us technical perfection as off now.
Cheers.
My Sell Limit - 70.00 SL - 70.40 (Will manually close if momentum filled candle closes above 70.20)
My Buy Limit - 68.10 SL - 67.70 (Will manually close if momentum filled candle closes below 67.90)
Still as I previously said looking to short this pair, but now I have broader idea of price movement & expecting play in this fashion. This analysis is based on a swing pattern that I have seen before in other pairs. Current interesting level to short is 70.00 handle & candle close above 70.10-20 handle will invalidate the short move & then we step aside to gauge market behavior briefly. If sell trade kicks off then our target & next potential trade setup is @ 68.10 handle (Buy setup). A break & candle close below 67.90 will invalidate our long belief & we step aside momentarily. But if it plays out as per our expectation then hold & build positions for resumption of long moves on yen crosses. My analysis & beliefs are same for all the yen crosses but NZDJPY is giving us technical perfection as off now.
Cheers.
My Sell Limit - 70.00 SL - 70.40 (Will manually close if momentum filled candle closes above 70.20)
My Buy Limit - 68.10 SL - 67.70 (Will manually close if momentum filled candle closes below 67.90)
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