{"id":10114,"date":"2022-10-17T07:15:23","date_gmt":"2022-10-17T07:15:23","guid":{"rendered":"https:\/\/mdr.foobrdigital.com\/?p=10114"},"modified":"2022-10-17T07:15:23","modified_gmt":"2022-10-17T07:15:23","slug":"chart-art-range-retracement-setups-on-nzd-jpy-gbp-nzd","status":"publish","type":"post","link":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/2022\/10\/17\/chart-art-range-retracement-setups-on-nzd-jpy-gbp-nzd\/","title":{"rendered":"Chart Art: Range & Retracement Setups on NZD\/JPY & GBP\/NZD"},"content":{"rendered":"\n

Got a Kiwi special for y\u2019all today!<\/p>\n\n\n\n

I\u2019m serving up a neat range opportunity on NZD\/JPY and a simple\u00a0trend\u00a0pullback on GBP\/NZD.<\/p>\n\n\n\n

Think these nearby inflection points will hold?<\/p>\n\n\n\n

NZD\/JPY: 1-hour<\/h2>\n\n\n\n

<\/a><\/p>\n\n\n\n

NZD\/JPY 1-hour Forex Chart<\/p>\n\n\n\n

Here\u2019s one for the range traders out there!<\/p>\n\n\n\n

This pair has been trading sideways since late last month, finding support at the 81.00 major psychological mark and inching closer to the resistance at 83.35.<\/p>\n\n\n\n

Will the ceiling hold again?Technical indicators\u00a0are suggesting so, as the moving averages and Stochastic both reflect bearish pressure.<\/p>\n\n\n\n

In particular, the\u00a0100 SMA\u00a0is below the 200 SMA to confirm that the path of least resistance is to the downside. In other words, the range resistance is more likely to hold than to break.<\/p>\n\n\n\n

Stochastic already reached the overbought region, which means that buyers could use a break right now. Turning lower would confirm that sellers are regaining the upper hand and might drag NZD\/JPY back to the range support.<\/p>\n\n\n\n

Just keep your eyes peeled for a break above the range resistance since this could be followed by a rally of the same height as the\u00a0rectangle pattern. That\u2019d be more than 200\u00a0pips\u00a0yo!<\/p>\n\n\n\n

GBP\/NZD: 1-hour<\/h2>\n\n\n\n

<\/a><\/p>\n\n\n\n

GBP\/NZD 1-hour Forex Chart<\/p>\n\n\n\n

Feel like trading a good ol\u2019 break-and-retest setup?<\/p>\n\n\n\n

This neat pullback play on the hourly chart of GBP\/NZD looks too good to pass up!The pair just broke above the\u00a0resistance\u00a0zone around the 2.0000 major psychological mark and has since reached highs near 2.0275.<\/p>\n\n\n\n

But before it heads any higher, price could retreat to nearby support levels to gather more bullish energy. The handy-dandy\u00a0Fib tool\u00a0shows where more buyers might be waiting.<\/p>\n\n\n\n

I\u2019ve got my eyes locked on the area spanned by the 38.2% to 50% Fib levels since this lines up with the former ceiling. The line in the sand for a pullback might be the 61.8% Fib or the\u00a0dynamic support at the moving averages.<\/p>\n\n\n\n

The correction could go on for a while since\u00a0Stochastic\u00a0is just making its way down and has some ground to cover before reflecting exhaustion among sellers.<\/p>\n\n\n\n

Don\u2019t forget to account for the\u00a0average GBP\/NZD volatility\u00a0when setting entries and exits because this one tends to spike!<\/p>\n","protected":false},"excerpt":{"rendered":"

Got a Kiwi special for y\u2019all today! I\u2019m serving up a neat range opportunity on NZD\/JPY and a simple\u00a0trend\u00a0pullback on GBP\/NZD. Think these nearby inflection points will hold? NZD\/JPY: 1-hour NZD\/JPY 1-hour Forex Chart Here\u2019s one for the range traders out there! This pair has been trading sideways since late last month, finding support at […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[386],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/10114"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=10114"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/10114\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=10114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=10114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=10114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}