NZD/JPY, 12/14/2011

by jennifer on December 14, 2011

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Here are some thoughts on the NZD/JPY.

NZD/JPY:    The daily chart indicates price may not be done falling. I’m already planning for a buy from the 4-hour chart, even though it’s not ready yet.

This is the daily chart with highlights showing room to fall on price and RSI.

Keeping that daily picture in mind, I’m making some preliminary plans from my 4-hour chart.
1. On the sell side: Possible sell below the recent lows, for 30 pips.

2. On the buy side: If price goes up enough to trigger my indicators, I will evaluate the available space for possible buy trade. It’s hard to say whether or not there will be enough room at that time, but this is how I plan for it.


Have a wonderful day.

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