{"id":119636,"date":"2018-01-15T10:20:32","date_gmt":"2018-01-15T15:20:32","guid":{"rendered":"http:\/\/countingpips.com\/?p=119636"},"modified":"2018-06-01T15:46:43","modified_gmt":"2018-06-01T15:46:43","slug":"short-term-trading-idea-fx-nzdjpy-bull-speculation-growth-to-the-upper-boundary-of-the-sideways-trend-expected","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/short-term-trading-idea-fx-nzdjpy-bull-speculation-growth-to-the-upper-boundary-of-the-sideways-trend-expected\/","title":{"rendered":"Short-term trading idea: FX NZDJPY – bull speculation: growth to the upper boundary of the sideways trend expected"},"content":{"rendered":"
January 15, 2018<\/div>
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By Gabriel Ojimadu, Alpari<\/strong><\/p>\n

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Trading opportunities on the currency pair:\u00a0<\/em><\/strong>For several weeks in a row, the Kiwi dollar has been rising against both the US dollar and the Japanese yen. The price is approaching the DTR1 trend line (downwards trend line). In my forecast, I\u2019m expecting a breakout of this line, followed by growth to the upper boundary of the range 75.63 \u2013 83.81.<\/em><\/p>\n

Background<\/em><\/strong><\/p>\n

The last idea on this currency pair was published on the\u00a06th<\/sup>\u00a0of March, 2017<\/a>. At press time, the price was trading around the 80.28 mark. In the review, I considered the possibility of a double top with a target of 78.41 (61.8% from the range 80.45 \u2013 83.81) with a possible decline to the trend line (TR) at 78.0. In the end, the Kiwi dollar dropped to 75.63.<\/p>\n

Current situation<\/em><\/strong><\/p>\n

Below is our pair\u2019s weekly chart. It\u2019s been in a sideways trend since the beginning of 2017, with a range of 75.63 \u2013 83.81 (818 pips). In the last 7 weeks, the New Zealand dollar has risen against its US counterpart from 76.09 to 81.31. Buyers are propping the price up at the upper boundary of this range.<\/p>\n

The Bank of Japan favours a loose monetary policy, so this upwards trend should continue during the 1st<\/sup>quarter. This growth can be broken down into two phases. First, growth up to the DTR1 at 81.73. Secondly, after the breakout of DTR1, growth to 83.31. Once the pair exits the sideways trend, we can consider the possibility of a surge on the Kiwi dollar to 87.60.<\/p>

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Fig 1. NZDJPY weekly chart. Source: TradingView<\/p>\n

Source: “Short-term trading idea: FX NZDJPY – bull speculation: growth to the upper boundary of the sideways trend expected<\/a>“<\/div>\n<\/div>\n
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By Gabriel Ojimadu, Alpari Trading opportunities on the currency pair:\u00a0For several weeks in a row, the Kiwi dollar has been rising against both the US dollar and the Japanese yen. The price is approaching the DTR1 trend line (downwards trend line). In my forecast, I\u2019m expecting a breakout of this line, followed by growth to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-119636","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=119636"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119636\/revisions"}],"predecessor-version":[{"id":119637,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119636\/revisions\/119637"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=119636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=119636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=119636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}