Originally updated: 09:00am

Currency Pair: NZD/JPY

Sentiment: Bearish

Market focus:

In today’s  trade set up we will be focussing on short term selling opportunities on the NZD/JPY.

Fundamentals:

The BOJ minutes came in as expected today, however there was some concern from officials that the yen had weakened too much and could start having adverse effects on smaller businesses.

The NZD will be our currency of choice to trade against after expectations for inflation two years from now fell to 2.06% and global commodity prices weigh on the AUD and NZD.

Technicals:

We have a nice confluence zone at 92.95-93.10. This should offer short term resistance for any pullback.

Stop loss could be placed at 93.55

Take profit target: 92.15

At no time should anyone view the information presented anywhere on this website as advice, recommendation or proven. Everything reflected is merely opinion and may not be accurate. The purpose of the site is to express the opinions and views of Jarratt Davis. There is no intention to offer specific help, advice or suggestions to anyone reading any of the content posted here.

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