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.

 PaxForex

2 comments:

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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