Wednesday, August 30, 2017

NZDJPY Forex Currency Pair technical Chart | 30-Aug-2017

Let us analyze the forex currency pair NZDJPY today. I'm using my favorite technical indicators  - Doda Donchian, Doda Bollinger Bands and Ichimoku.


NZDJPY Forex Currency Pair


 


The time frame used is H4.


Although Doda-Donchian gave Buy signal @78.870 but at that time, it was trading below Ichimoku cloud. 


That means in a Bearish territory.


Also, the currency pair was below Doda Bollinger Bands.


That means the trading signal given by Doda-Donchian was the False signal.


But after it crossed Ichimoku cloud and enters the bullish territory and also above Doda-Bollinger Bands, there is no point in waiting here.


So, take a Buy call on this currency pair @79.686 for an immediate target of 80.018, which is its Resistance 2.


Other Support and Resistance areas are:


Support and Stop loss @79.518


Resistance @80.018 and @80.554


 


I hope you understand my trading strategy with this article. If you've any doubts, please share in the comments section below.