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I’ve got a yen special lined up for y’all today!

If you’re bullish on the Japanese currency, better look at these neat pullback setups on GBP/JPY and NZD/JPY.

Check out the Fibs on the 4-hour charts:

GBP/JPY: 4-hour

GBP/JPY 4-hour Forex Chart

GBP/JPY 4-hour Forex Chart

Guppy recently busted through the bottom of its symmetrical triangle pattern, marking the start of a big downtrend.

If you missed this breakout move, don’t fret because you could still catch the retest!

The pair is already in the middle of a pullback to the former triangle bottom, which happens to be right smack in line with the 38.2% Fib and the 162.00 handle.

A larger correction may be in order since Stochastic has a bit more ground to cover on its move up to the overbought area. In that case, GBP/JPY could still pull up to the 50% Fib near the 163.00 mark or the 61.8% level at 163.81.

If any of the Fibs hold as resistance, the pair could slide back to the lows near the 159.50 minor psychological level or lower.

Note that the chart pattern spans roughly 700 pips, so the resulting selloff could be of the same size. Better not miss this one!

NZD/JPY: 4-hour

NZD/JPY 4-hour Forex Chart

NZD/JPY 4-hour Forex Chart

This pair also fell through a key support level to confirm that Kiwi bears are ready to paint the forex town red.

Any chance to catch the selloff at a better price?

The handy-dandy Fibonacci retracement tool shows that the 38.2% level is near the former range support around the 83.50 minor psychological mark.

Stochastic is just starting to turn higher from the oversold region, however, so there might be plenty of bullish vibes to keep the correction going for a while.

A much higher pullback could take NZD/JPY up to the 61.8% level that’s near the dynamic resistance at the moving averages, but that would put price back inside its range.

Still, if any of the Fibs hold as resistance, the pair could drop back down to the swing low near 82.00 or tumble by the same height as the rectangle pattern.

The moving averages are oscillating to reflect rangebound action for now, but it looks like the 100 SMA is bracing for a bearish crossover from the 200 SMA.