What do you think about the NZDJPY?

Written by Raul Lopez on . Posted in Trades & Analysis

Are you currently trading the NZDJPY? Because I’m thinking about longing it. There are two things that I like about the NZDJPY:

  • If you take a look at the long term charts, its clear that it was rejected from an important support level.
  • If we get a BOJ intervention, it will be on our favor.

 

Here is the 15M chart:

My trading plan:

Wait for a retracement to the short term support level (lower green level) and if it forms a significant pattern with upward pressure, I’ll be going long.

What do you think?

Trade Safe!

Raul Lopez
Forex Course

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Raul Lopez

I've been trading the forex market for more than 11 years. All my trades are based on price action. Check out my Forex Coaching program, I can help you develop a system that helps you trade consistently.
StraightForex
Raul Lopez Forex

Trading should be simple

I like to trade using simple tools such as support and resistance levels, candlesticks, price action and others. If you like simplicity, you'll love my Forex Coaching. Read more about me.

If you have any question about anything, please feel free to contact me at: info@straightforex.com or call +1 518 300 3828

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