NZDJPY 2H SHORT
Fundamental Analysis:
• JPY10 is in an uptrend, which suggests to me that the yen is undervalued.
• Even though risk sentiment is not a major factor in the current context—since the main macro driver right now is Trump, I wouldn’t be surprised if, given this uncertainty, investors turn to the yen, especially since the BOJ is one of the most hawkish central banks at the moment.
• New Zealand’s data has been generally weak, but this week’s data could surprise, which is why I have reduced my risk.
Technical Analysis:
• Overall downtrend on HTF (Daily, H8).
• Triple top formation right at the 50% Fibonacci level.
• Strong bearish divergence with the RSI.
• Retail traders are mostly long.
• COT report supports my direction.
• Targeting 83.100.
• SL placed behind the recent highs, behind the triple top, behind the 3-touch resistance, and on the 200 SMA.
• Entry on the break of the 50 SMA, which has been respected overall.
• JPY10 is in an uptrend, which suggests to me that the yen is undervalued.
• Even though risk sentiment is not a major factor in the current context—since the main macro driver right now is Trump, I wouldn’t be surprised if, given this uncertainty, investors turn to the yen, especially since the BOJ is one of the most hawkish central banks at the moment.
• New Zealand’s data has been generally weak, but this week’s data could surprise, which is why I have reduced my risk.
Technical Analysis:
• Overall downtrend on HTF (Daily, H8).
• Triple top formation right at the 50% Fibonacci level.
• Strong bearish divergence with the RSI.
• Retail traders are mostly long.
• COT report supports my direction.
• Targeting 83.100.
• SL placed behind the recent highs, behind the triple top, behind the 3-touch resistance, and on the 200 SMA.
• Entry on the break of the 50 SMA, which has been respected overall.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.