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NZD/JPY Strategy: Trading the 93.00 Pivot as Bearish Pressure Mounts

Stefan WeberJan 24, 2026, 15:28 UTCUpdated Feb 1, 2026, 22:24 UTC3 min read
NZD/JPY technical chart showing pivot levels at 93.00

NZD/JPY closed the week with a heavy profile at 92.66. We analyze the 93.00 decision pivot and tactical levels for the upcoming London/NY handover.

The NZD/JPY pair entered the weekend on a defensive footing, closing the final liquid session of the week at 92.66, marking a significant 1.22% decline. As we head into the January 24th session, the market profile remains heavy, positioning the 93.00 level as the critical decision pivot for early-week price discovery.

Technical Context and Pivot Logic

Following a session high of 94.02 and a low of 92.49, the pair's inability to sustain levels above the psychological 93.00 mark suggests a shift in near-term sentiment. In a disciplined trading framework, the 93.00 pivot acts as the line in the sand: below this level, rallies are viewed as opportunities for sellers, while a sustained reclaim would be necessary to shift the bias back to the upside.

Key Handover Markers

  • 08:45 London: Initial pulse and range definition.
  • 09:50 London: Price discovery and retest quality assessment.
  • 10:55 New York: NY confirmation—determining if the move is a trend extension or rotation.

Tactical Decision Map

Traders should monitor the following support and resistance ladders to gauge momentum and liquidity depth:

  • Resistance: 94.00 (Initial) → 94.50 → 95.00
  • Pivot: 93.00 (Figure Magnet)
  • Support: 92.50 (Immediate) → 92.00 → 91.50

Market Regimes and Scenario Planning

The base case (60% probability) anticipates a rotation toward the pivot with range-bound tactics persisting between 92.50 and 94.00. An upside breakout (20%) requires acceptance above 94.00, targeting the 95.00 handle, while a downside extension (20%) would see the pair challenge 91.50 if the 92.50 support fails to hold.

Execution Rules: Retest vs. Noise

In the current environment, retest quality serves as the primary signal, whereas initial spikes often represent noise or liquidity traps. A professional implementation rule is to treat the first break as a signal and the subsequent retest of the boundary as the trade entry. If price snaps back immediately after a break, it likely indicates a mean-reversion opportunity back toward the 93.00 pivot.

Risk Management and Volatility

Successful execution requires adapting risk sizing to the realized range. If volatility expands, traders should consider reducing leverage and widening stops to accommodate larger swings. Conversely, if the range compresses, stops can be tightened, but care must be taken to avoid overtrading in low-liquidity environments. The objective remains stable risk per idea regardless of the prevailing market regime.

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