Forex Analysis Report 11-19-18...NZD/JPY...Swing Trade Set-Up To Go Long
Two weeks ago, I talked about a day trade set-up
but it didn't work out and price actually broke the downward channel.
The Kiwi appears biased to extending its upside as the forex markets are betting on global trade tensions are likely to diffuse than not, which would means we may be close to a risk on environment again, which would put pressure on the Yen.
Lets go to the charts to see where price might head next.
Monthly Chart (Curve Time Frame) - monthly supply is 91.000 and monthly demand is 62.500.
Weekly Chart (Trend Time Frame) – the trend is sideways, but just broke out of the descending channel, so price action/bias is to the upside.
Daily Chart (Entry Time Frame) – the chart suggests to go long on a pull back to the 75.000 level,
with a target at 82.00.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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by rollandthomas
Great analysis Rolland
Thanks @workin2005.