Thursday, July 2, 2015

NZDJPY Buy Recommendation July 3rd 2015

Currency Pair: NZDJPY
Timeframe: Hourly Chart (H4)
Recommendation: Buy NZDJPY @ 82.60
Take Profit @ 89.00
Stop Loss @ 81.10

The NZDJPY has sold-off nicely and everyone who was short in this currency pair, congratulations on some deserved pips. I think we will see a volatile period ahead of us where this currency pair will try to carve out some solid support before we will witness a sharp reversal.

I am positioning myself for a short-covering rally as I do think the sell-off was overstretched and left the NZDJPY in extreme oversold territory. We could see some choppy, sideways action before forex traders will realize floating trading profits.



With the GAP in NZDJPY, that has already been filled, is this analysis still accurate?

Hi John, it is best to follow the signals on the day they were published.

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