NZD/JPY | Oct 3, 2019
If you have read my previous analysis of USD/JPY, you know that stop grabber has been accomplished as USDJPY penetrated low of Sep 24. Now USD/JPY may pull back. Profit taking from sell positions (closing sell of USD/JPY) by many traders and fund managers ahead of NFP, will also help it.
Meanwhile NZD gained as you can see on NZD/USD and it seems to be changing trend today.
Note that I analyze USD/JPY and NZD/USD to determine trade setup on NZD/JPY because the two are more popular than NZD/JPY.
Technical things on NZD/JPY suggests a buy stop order.
It will be either closed at TP (2.0 pips below FIB38.2 on NZD/JPY) or if FIB61.8 on NZD/USD will be hit before FIB38.2 on NZD/JPY, I will close it manually.