NZDJPY

Chart courtesy of Advanced GET. Real time data provided by eSignal.

The chart above is a split view of NZDJPY. A short while ago I did an analysis on this cross and I have found quite a few reasons to short this. I opened a short at 9pm based on one of my mechanical systems (which is unusal for me I know) and am already 55 pips in profit. I have my stop at break even now.

Although the daily bar has not concluded, it is currently showing signs of a possible reversal. I know second guessing is not generally permitted but I will excuse myself this time as I have a few confluence of events so I have stacked the odds in my favour and the worst that can happen now is I break even.

Please do your own analysis on this to draw your own conclusions.