USDX
104.098

0.02%

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1963.70

0.02%

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71.451

0.06%

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1.06901

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1.24227

0.00%

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139.216

0.28%

USNDAQ100
14560.47

0.09%

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      NZD/JPY Technical Analysis: Bearish Momentum Continues

      Traders' Opinions
      Summary:

      The NZD/JPY pair is experiencing a bearish momentum, and traders should be looking for short positions. The retracement phase provides an opportunity for traders to identify potential entry points, but they should be cautious and closely monitor the price action to minimize the risk.

      Sell NZDJPY
      End Time
      CLOSED

      81.500

      ENTRY

      78.500

      TGT

      82.500

      SL

      84.569 -0.254 -0.29%

      1000

      Points

      Loss

      78.500

      TGT

      82.501

      CLOSING

      81.500

      ENTRY

      82.500

      SL

      NZD/JPY Technical Analysis: Bearish Momentum Continues_1The NZD/JPY pair has been experiencing a downtrend and the recent breakout of support has reinforced the bearish bias on the pair. As we can see from the 4H timeframe perspective, we are in a bearish market structure, which suggests that traders should be looking for short positions.
      NZD/JPY Technical Analysis: Bearish Momentum Continues_2The price is currently in a retracement phase and is likely to fill the imbalance higher before rejecting from the bearish order block and institutional big figure at 81.500. Traders should wait for the price to roll back to the support level before considering short positions.
      The recent breakout of support didn't come as a surprise, but instead, it has reinforced the bearish momentum of the pair. Traders should be cautious and closely monitor the price action to identify potential entry and exit points.
      The bearish bias is further supported by the current market structure, which suggests that the price is likely to continue its downward momentum. Traders should keep an eye on key levels of support and resistance to identify potential opportunities for short positions.

      TRADE  RECOMMENDATION

      SELL NZDJPY
      ENTRY PRICE :81.500
      STOPLOSS : 82.500
      TAKE PROFIT : 78.500
      Risk Warnings and Investment Disclaimers
      You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.

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      Warren Takunda

      Analyst

      Warren Takunda is an experienced financial analyst and CFO at Verge Capital in Dubai, with a proven track record in the finance industry. He leads the finance team and is responsible for financial planning, analysis, and reporting. Warren has extensive experience in financial modeling and investment analysis, which enables him to provide valuable insights to clients.

      Rank

      9

      Articless

      227

      Win Rate

      49.48%

      P/L Ratio

      1.12

      Focus on

      XAUUSD, EURUSD, GBPJPY

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