NZDJPY Trade Setup for 14th August, 2014

NZDJPY Trade Setup for 14th August, 2014

1 Hr Chart

• If prices do get to the R2 Daily Pivot , it has very good confluence levels there
• 127.2 Inverted Fib
• 200 inverted fib
• 78.6 Fib Retrace level
• and Daily Range high (using average pip movement per day)

• We also have two harmonic patterns identified from my EA which usually is a good indication as well, 
• If you switch to a 4hr chart, the downward slopping 100SMA is at this level,
• We also have a small 1hr shooting star during asian session

Outlook Trade opportunity

Perhaps short trade opportunity now or later depending how you see the market

Risk Level Low

Tips -

Always take note of any economical news event on our provided calender below