Блог Jignesh

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No Stopping the Yen Pairs

The Japanese Yen strengthen at the start of the week as it took it's well known form as a safe haven. Gold as well caught a strong bid, but it appears the momentum was short lived. The majority of the Yen pairs have already reversed it's trends.
A possible reason for it could be the expectation for an announcement of further stimilus from the BOJ this week.
On Wednesday and Thursday we are set to hear from the BOJ. They are expected to release their monetary policy statement, as well as a press …
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Beaten up Kiwi takes a strong Rebound

The Kiwi has taken a beating this week as fundamentals have not been in favor of the currency. It started with a bad Dairy number, and then continued with a big miss in Employment change.
Although the Unemployment Rate came in as expected at 6.0%, It was still a drop from previous reading at 5.9, in fact, New Zealand has been posting steady declines in Unemployment since last year this time.
To top that off, the USD has been strong, which has been putting pressure on all the majors. Today, the K…
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NZDJPY Bearish below 89.80 - Area for downtrend to resume

The NZDJPY has been bearish for the last month, ever since the RBNZ surprised the markets with their intentions of cutting rates in the future, while it was largely expected they would continue in their hike schedule.
The current 4H wave count in the pair shows a cycle to the downside has completed and we are in a new wave structure. The current retracement at 89.90 is holding the price to the downside, and this is an area where we can see the downtrend resume.
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NZDJPY Daily Completes a Double Correction From Highs

NZDJPY has most likely completed a double correction from it's high's of 94.03
Price should turn from here as long as it remains above 84.93. Upside resistance comes in at 89.31 which coincides with the 50% fib of the entire move to the downside. Momentum has been strong to the downside, price may consolidate before turning.
Similar structures can be found in pairs like CADJPY.
Figure 1 - Daily NZDJPY Proposed Wave Count

Figure 2 - Weekly NZDJPY Levels
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NZDJPY Scalp Setup in Play

This is one of the setups that was presented in today's webinar. If you like the setup - please be sure to attend my next webinar, they are scheduled 16:00-17:00 GMT everyday this week.
NZDJPY - 4H Chart
The above chart shows the NZDJPY has broken out of a 4 hour channel. The price looks to be coming back to retest the trendline. In the webinar I presented an idea to buy or sell any break of the channel as indicated by the lines. I've marked some key support and resistance lines. The trade idea …
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