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Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for tra...
Trades may be entered at any time over the next 24 hours.
Trade 1 – short
• Sell NZD/JPY at or below 73.85
• stop losses should be placed just above the 75 handle
• take profit is 72.75
NZD/JPY Analysis
The NZD/JPY pair has been grinding lower over the longer term. Because of the attempt to break out but exhaustion by the end of the day, it’s likely that sellers will feel relatively confident in this trade. A breakdown below the bottom of the daily range is very bearish, and should continue the assault on the 72.50 support level below.
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Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for traders who rely on technical setups to navigate volatile market conditions
As seen on:Pairs Of Aces Podcast,The Trader Guy, FXEmpire
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