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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.




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