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NZDJPY Trading Info (Oct 30)

Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-10-30_14-23-37-NZDJPY2

Dear NZDJPY carry traders,

Here is one extra tip for you.

NZDJPY remains one of the Bullish currency pair, as seen on Ichimoku Daily chart.

2015-10-30_14-25-28-NZDJPY3

 

However, I see a Bearish Divergence on the Daily Stochastic as seen below.

2015-10-30_14-21-55-NZDJPY

This is a big concern for Carry traders.  Simply it may be better to hold on buying this pair, until Stochastic is back in the up cycle.

On H4 chart, if the price makes a new Higher High, then that should be good.  We will be good to buy.  But what I am afraid of is… making series of Lower Highs and Lower Lows, forming reversal pattern.

2015-10-30_14-23-37-NZDJPY2

If that’s the case, you could short this pair as a short term trades.  But that won’t be a carry trade.

If you are really carry trading, perhaps you should wait until Daily Stochastic turns back up.

 

YJ Baik – Forex.Today @ Tokyo

 

 

 

One comment on “NZDJPY Trading Info (Oct 30)”

  1. Profile photo of Agostinho Santos
        November 2, 2015

    thks YJ Baik realy good.

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