NZD/JPY Forex Signal - 4 October 2016

|

Today’s NZD/JPY Signals

risk at 0.5%

Trades may be entered at any time over the next 24 hours.

Trade 1 – short

• Sell NZD/JPY at or below 73.85

• stop losses should be placed just above the 75 handle

• take profit is 72.75

NZD/JPY Analysis

The NZD/JPY pair has been grinding lower over the longer term. Because of the attempt to break out but exhaustion by the end of the day, it’s likely that sellers will feel relatively confident in this trade. A breakdown below the bottom of the daily range is very bearish, and should continue the assault on the 72.50 support level below.

Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.