News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Nasdaq Ekes Out Small Gain As Focus Turns to FOMC, Uber Flies On Bullish Guidance $NDX $UBER #trading #FED
  • Fedex Q1 Results: Revenues: $22.0B vs. $21.8B est. EPS $4.37 vs. $4.92 est. $FDX down roughly 2.25% AH
  • In this week's Macro Setup @CVecchioFX, discusses with @RiskReversal and @GuyAdami, news regarding property developer Evergrande weighing down US financial markets, and September's Fed meeting impact on assets. Tune into the markets now!
  • Copper demand continues to outstrip supply, according to the recent update from the International Copper Study Group. Get your $XAG market update from @CVecchioFX here:
  • China to be carbon-neutral by 2060; country will stop building coal-powered projects abroad - BBG
  • Curious to know if this is because a) bailout by Beijing is still widely viewed as the base case scenario if contagion materializes and/or b) recent backstops implemented globally to curb financial market fallout have effectively supplanted left tail risk
  • video uploaded from today's webinar
  • WTI crude rebounded nicely from session lows, now trading at $70.50 $CL #Oil #OOTT
  • RT @ZabelinDimitri: Regarding the Fed dot plot⬇️ "If another two officials were to move up their expectations for a rate increase into 2022…
  • Tonight will see Chinese markets open after a two day closure to observe mid-Autumn festival. Naturally, there will be increased focus and volatility given the current backdrop of Evergrande default concerns. Get your market update from @JMcQueenFX here:
Scalping NZD/JPY Breakdown- Shorts Favored Sub 90.00

Scalping NZD/JPY Breakdown- Shorts Favored Sub 90.00

Michael Boutros, Strategist

Talking Points

  • NZDJPY breaks key near-term support at 89.90 – 90.02
  • Scalp bias weighted to the downside below this mark
  • Event Risk on Tap This Week


Scalping NZD/JPY Breakdown- Shorts Favored Sub 90.00

Chart Created Using FXCM Marketscope 2.0

Technical Outlook

  • NZDJPY monthly opening range break on 1/13 put short-side bias in play
  • Rebound & defense of the opening range low as resistance- bearish
  • Interim support 88.52/65, April 2014 median-line (aprox~ 88.35) & 87.40/54
  • Resistance at 89.91 – 90.02 – scalp bias bearish invalidation
  • Key resistance & broader bearish invalidation up at 91.65 (monthly ORL)
  • Daily RSI coming into 40 support- Break below would be bearish
  • Limited event risk until next week

NZD/JPY 30min

Scalping NZD/JPY Breakdown- Shorts Favored Sub 90.00

Notes:The pair has continued to trade within the confines of a well-defined descending pitchfork formation off the late-December high with today’s decline breaking through key near-term support at 89.91- 90.02. This region is defined by the weekly opening range, the median-line bisector and the confluence of the 100% extension off the 2014 high & the 38.2% retracement of the October advance. We will reserve this zone as our bearish invalidation level with our immediate focus on a push lower into the lower median-line parallel at 88.30/65.

Bottom line: looking to sell rallies / short triggers while below the 90-handle with a break sub-88.30 targeting more significant support at the 84.40/55 objective. A quarter of the daily average true range (ATR) suggests profit targets of 26-29pips per scalp. Event risk for the pair is limited heading into the end of the week but we’ll be on the lookout for the RBNZ interest rate decision on

* It’s extremely important to give added consideration regarding the timing of intra-day scalps with the opening ranges on a session & hourly basis offering further clarity on intra-day biases.

Relevant Data Releases

Scalping NZD/JPY Breakdown- Shorts Favored Sub 90.00

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

For updates on this scalp and more setups follow him on Twitter @MBForex

To contact Michael email or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFXat 13:30 GMT (8:30ET)

Interested in learning about Fibonacci? Watch this Video

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.