NZDJPY Long trade before market change
The NZDJPY has been in a bull trend channel on the daily and 4 hour charts for a while now. However, calls from the RBNZ to intervene may see the NZD decline soon which I think is likely, and that coupled with favorable risk sentiment from the BOJ will help such a move. But before that happens I think there will be a solid test of the 88.00 resistance level with a break of that level, a major psychological level as well, seeing further gains towards that 89.00 level before the change comes.
Technically, with price action again above the 20 EMA and the PPO above 0 a move back towards these levels soon is feasible. The Fisher Transform is also bullish and shows signs that a continuation is certainly possible.
Technically, with price action again above the 20 EMA and the PPO above 0 a move back towards these levels soon is feasible. The Fisher Transform is also bullish and shows signs that a continuation is certainly possible.
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