23/06 – NZDJPY five waves sequence coming to an end?

Hello! Today I want to look at the NZDJPY.

1wfib-ext

In February 2009 we got an important low, from where we bounced strongly in five waves. After that we had a sideways move that lasted for two years. In 2012 this pair rocketed higher towards the 90 level and now I believe we will see a sharp correction or a new, long-term bear trend begin, depending on if the move from 2012 was wave 3, C or W.

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Fibonacci Ratios

If we compare major and minor wave 1 with wave 5 we see there is alot of Fibonacci confluence between 90-92 area.

1w-w1jfl 4H-w1jfl

Divergence

There is also divergence all over the place.

1d divergence 1w divergence

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Short term

I still like to see more upside in the short term.

1h

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Corrected markets

I have already written about #EURAUD in my previous post,
where I also mentioned #EURNZD:

eurnzd

 

AUDJPY is also getting interesting at this levels …

audjpy…but it should make one more high before lower.

audjpy1I have also shared my thoughts on NZDUSD earlier on Tradingview.com:


Bearish bat in the making by traderWgun on TradingView.com


Shooting star warning that a major cycle has ended by traderWgun on TradingView.com


wave C coming to an end by traderWgun on TradingView.com

 

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Disclaimer: None of the content above should be taken as trading or investment advice. The content of this blog is for educational purposes only, and it is aimed solely for the use by experienced traders in the FOREX market as the contents are intended to be understood by professional users who are fully aware of the inherent risks in FOREX trading.

 

 

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