FX.co ★ markolis | NZD/JPY

Hello everyone, and welcome back to the forum! It is great to see the community so active. Today, I’ve been focusing my attention on the NZDJPY currency pair. Analyzing the Yen crosses always requires a bit of extra focus due to their unique volatility, but looking at the current price action, I believe I’ve found a high-probability setup that I’d like to walk you through. The Primary Plan: Buying the Support When I look at the chart right now, the level that stands out the most is 91.00. This psychological "round number" is acting as a very solid support zone. In my view, the most effective way to capitalize on today’s market movement is to look for a buy entry right at this 91.00 mark. If the market respects this floor as I expect it to, we should see a nice bounce as buyers step back into the fray. My primary target for this move is the previous swing high. If everything aligns with my analysis, I’ll be looking to take profits once the price reaches 91.50. That 50-pip move represents a very clean, structured trade that aligns well with the current intraday momentum.

Managing the Risk Of course, I’m not going into this trade with blinders on. The market is the ultimate boss, and it’s entirely possible that my bullish thesis could be wrong. To protect my account from a sudden breakdown, I’ve identified a clear "line in the sand." If the price drops and holds below 90.70, I will accept the loss and exit the position. Setting the stop loss here gives the trade enough room to fluctuate without letting a small mistake turn into a major drawdown. The Pivot: Adapting to the "Mirror" Level One of the most important lessons I’ve learned in my years of trading is that you cannot be stubborn. If the support at 91.00 fails, it doesnt mean the opportunity is gone—it just means the opportunity has changed direction. If the bears manage to push the price decisively below 91.00, that level will likely undergo a "role reversal." In technical terms, we call this a mirror level, where old support becomes new resistance. If that happens: I will stop looking for buys. I will instead look to sell (short) the pair on a retest of the 91.00 level from below. Staying Flexible Success in this game isnt about predicting the future with 100% accuracy; it’s about being flexible. I’m not married to the idea of NZDJPY going up; I’m married to the idea of following the price wherever it leads. Whether we see a bounce or a breakdown, I am ready to adapt my strategy to the real-time flow of the market. At the end of the day, being a successful trader means being a professional risk manager who knows how to pivot when the data changes. Let’s see how the candles close today. Good luck to everyone, and let’s make it a profitable session!