NZDJPY had an excellent bullish journey. As things stand now, we might see a reversal on the pair. Here is why we think there might be a reversal coming. On the 4 hourly chart, there was a bullish trend line, which seems to be broken and held so far. Moreover, there is a double top forming at the level of 81.200 and the support at 80.590 has been handsomely broken and held. Have a look at the 1 hourly chart of NZDJPY.

Now what we are going to wait for here is a break at the level of 80.090 by an hourly candle after forming a 4 hourly reversal candle. It might take 1 or 2 extra 4 hourly candles to form the reversal one since a bullish trend line is there. If things go according to this calculation, then the price should go and check the level of 79.150 without having that many obstructions. Let us see the trading level here.

• Entry- should be taken on the break out at 80.090
• Stop loss- should be placed at today’s lower low
• Take profit-should be placed at the level of 79.150

A trader has to give a lot of emphasis on demo trading. Matter of regret is that demo trading is often ignored by the traders. It is considered as a waste of time, which is never true. A trader has to trade on demo account at least for six months to a year. The more the better it is. There is a saying about Forex investment. “Invest your time before investing money in the market”. If we do it other way round, it might not work. Thus, we must make sure that we have had enough experience in trading on demo account before jumping into live trading. We hope that you enjoy our Free Forex Trading Signal today: NZDJPY Free Forex Trading Signals - 5th Dec Nov 2016. Comment below if you have questions on this trade and please let us know if you made money if this trade signal. Good luck! You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.