Confessions of a Forex Trader

Its been a while since the last time I had the NZDJPY in a clear market condition, but earlier today it clearly broke through an important ST support level triggering a bearish market condition:

As long as the NZDJPY keeps trading below 64.98 I’ll keep looking for short opportunities.

Trade Safe!

Raul Lopez
Forex Training

The NZDJPY is trading in a clear bearish market condition, earlier this morning it broke through the ST support level indicating it is likely to continue its way down until ir reaches the next LT support level at 62.72:

As long as the NZDJPY continues to trade below 65.61 I’ll be looking for short opportunities.

Trade Safe!

Raul Lopez
Forex Training

The NZDJPY is clearly trading in a bullish market condition. It was trading in a short term range around an important LT resistance level, but earlier today it broke through an important resistance level triggering a bullish market condition:

As long as the NZDJPY trades above 64.77 I’ll be looking for opportunities to go long.

Trade Safe!

Raul Lopez
Forex Training

The NZDJPY is still trading in a bullish market condition since de 23rd of December. I’d like to see a retracement to the ST support level around 62.97 and see how the market behaves there to look for a long opportunity:

As long as the NZDJPY trades above 62.97 I’ll be looking for long opportunities. The next LT resistance level is at 64.30

Trade Safe!

Raul Lopez
Forex Course

The NZDJPY traded in a medium term range for about two weeks, however, earlier this morning the market decided to break the ST term resistance level, which triggered a bullish market condition:

As long as the NZDJPY keeps trading above 64.70 I will be looking for long opportunities. The next LT resistance level is at: 66.86

Trade Safe!

Raul Lopez
Forex Training

Even after the US interest rate announcement (which by the way there was no change in the interest rates) the NZDJPY remains in a bullish market condition:

I will be looking for long opportunities around the green support area (retracement signal) or around the green resistance area (breakout signal).

All short opportunities will be ignored.

The next LT resistance level is around 64.30

Trade Safe!

Raul Lopez
Forex Training

The NZDJPY is trading in a bullish market condition, I will only look for long opportunities:

As long as the NZDJPY trades above 61.22 I will be looking for long opportunities. All short opportunities will be ignored as it is trading in a bullish market condition.

If it follows through this bullish market condition, the next LT resistance level is at 64.30

Trade Safe!

Raul Lopez
Forex Training

Next week is going to be interesting, there are plenty of currency pairs reached a major Support or Resistance level, and most of them are being rejected from these levels…

This is the case of the NZDJPY, which traded in a bearish market in the previous three or four weeks, and now, apparently it is being rejected from a LT support level:

NZDJPY

I don’t think there is much movement left today, as the market is about to close, but definitely the NZDJPY will be a cross to keep an eye open next week.

Trade Safe!

Raul Lopez
http://www.straightforex.com/

Its been a while since the last time I wrote about a daily chart… Anyway, here is the NZDJPY daily chart, it was rejected from an important LT resistance level around 63.84:

NZDJPY

In the short term charts, the NZDJPY already broke through the ST support level, triggering a bearish market condition, this allows us to look for short opportunities.

As long as the NZDJPY keeps trading below 63.28 I will be looking for short opportunities.

Trade Safe!

Raul Lopez
http://www.straightforex.com/