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Nzdjpybreakout

NZDJPY approaching support, potential for a bounce! NZDJPY is expected to drop to 1st support at 69.059 where it could potentially react off and up to 1st resistance at 69.675. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone
1
Analysis of NZDJPY 22.08.2019The price is below the moving average of 20 MA and MA 200, indicating the downward trend. MACD is below the zero level. The oscillator Force Index is below the zero levels. If the level of support is broken, you shall follow the recommendations below: • Timeframe: H4 • Recommendation: Short Position • Entry Level: Short Position 67.50 • Take Profit Level: 66.50 (100 pips) If the price rebound from a support level, you shall follow the recommendations below: • Timeframe: H4 • Recommendation: Long Position • Entry Level: Long Position 68.50 • Take Profit Level: 69.00 (50 pips) USDCHF A possible long position at the breakout of the level 0.9830 USDJPY A possible short position in the breakdown of the level 106.20 EURUSD A possible short position in the breakdown of the level 1.1065 GBPUSD A possible short position in the breakdown of the level 1.2100
by PaxForex