Posts Tagged ‘nzdjpy’

Yen Crosses Party

Thursday, February 4th, 2010

It’s interesting that from the currency pairs & crosses that I’m monitoring right now, the yen crosses are the ones with the most interesting market condition, including:

EURJPY, GBPJPY, NZDJPY, AUDJPY

These crosses are trading in a very clear bearish market condition, but that’s not all, the next LT support level is a few hundred pips away on all of them.

But one pair I don’t like right now is the USDJPY, not clear market condition, no consistent support & resistance lvls…

Weird isn’t it?

Be careful tomorrow with the NFP announcement

Trade Safe!
Raul Lopez

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NZDJPY: Bearish market condition, looking for shorts

Wednesday, January 20th, 2010

The NZDJPY is in a clear bearish market condition, earlier this morning it broke through an important long term support level:

NZDJPY

NZDJPY

My Trading Plan:

As long as the NZDJPY keeps trading below 66.59 I will be looking for short trade opportunities.

All long opportunities will be ignored.

Trade Safe!
Raul Lopez

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NZDJPY: Trading at an important level, waiting for breakout

Tuesday, December 15th, 2009

The NZDJPY is trading near the long term resistance level of 63.89, in the short term charts that level accounts for the range 63.84 – 64.79:

NZDJPY

NZDJPY

I would like to see the NZDJPY trading above 64.79 to start looking for long trade opportunities.

Here is my plan:

If the NZDJPY breaks the short term resistance level I will start to look for long trade opportunities. All my TP orders will be set just below the next long term resistance level around 66.25

If the NZDJPY breaks the short term support level I will start to look for short trade opportunities. All my TP orders will be set just above the next LT support level around 62.64.

If the market keeps trading in between the short term range I will do nothing.

Trade Safe!
Raul Lopez

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