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NZDJPY Range Box Effect

Daytrader21 Publicado 14 May como análisis en NZD/JPY, Objetivo: 90.8400, Fecha: 1 de Julio, 12:00 GMT  en #Technical analysis #Elliot Wave #Correction #NZD/JPY #Range Box #Price Structure
NZD/JPY has been moving over the paste few years in a big range boxes and that's usually the case with a lot of pair crosses as this is their normal behavior. In Figure 1 we can see how this price action looks like. Usually when we enter in the territory of a new range boxes the new boxes that will form in the right side of the chart will use the middle of the range box from the left as the top and as the
bottom will use the middle of the box from beneath the price action where mos…
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Daytrader21 16 May

Update 1: Next week support level stands at the 88.00 level and previous swing low point, which is also wave X of our double zig-zag pattern, From here on we should expect either consolidation without the low to be taken our or a move straight to the upside.

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Daytrader21 22 May

Update 2: Since last week nothing much has happened as the market was moving inside a narrow trading range between 89.30 resistance level and 88.30 support level. The market may need another retest of the 87.00 level before going higher and resume the wxy pattern

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Daytrader21 29 May

Update 3: The 88.00 round number and support level has been again retested but we couldn't break below it. Look next week for a rebound. Right now we're in a tight range between 88.00 support level and the big round number 90.00 which act as resistance.

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NZD/JPY Sustained Bullish Trend

Daytrader21 Publicado 14 Sep como análisis en NZD/JPY, Objetivo: 88.9300, Fecha: 3 de Noviembre, 12:00 GMT  en #Technical analysis #Trend #Support #Resistance #Bullish #NZD/JPY #Range #Psychological Number
Since mid 2012 NZD/JPY has started to move in an healthy and sustained bullish trend(see Figure 1) which ultimately will have to retest the 2007 all time high. Usually this type of moves last anywhere between 3-5 years so that's the reason why we can expect current momentum and trend to continue as long as there is no major event to change the course of this trend. If we look on the weekly chart we can see that there is no resistance to stop the price from further advancing so it's wise to assum…
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Daytrader21 11 Oct

Update 1: Unfortunately we broke below the 85.60 support level and there is further scope for more downside here. Next weekly support level comes in 82.50 from where we can expect a bounce. It seems that I was wrong on this forecast as i didn't expected this correction

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Daytrader21 19 Oct

Update 2: Even though we broke below 85.60 the downside momentum is losing any force and has started moving in tight congestion zones. Only a break above the big round number 85.00 could help the bulls. For next week support stands at 83.75 any break below that level can signal that my analysis is wrong and we may heading down.

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Daytrader21 25 Oct

Update 3: It seems that we have put in place a new swing low as the market was unable to take out previous swing low. From here on we should expect only upside movement

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Daytrader21 1 Nov

Update 4: It seems that I was right on this one and after we manage to put 83.30 swing low in place although the market spend a lot of time in range after the initial breakout to the upside the move was extended in the direction of the breakout and we come closer to our target. From here on we should expect only upside movement and take as support level current market price of 87.40. First resistance comes in at 88.00 but I'm not sure we have enough time for our target to be meet

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