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Trading Outlook: NZD/JPY

Posted On 05 Nov 2014
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Originally Updated: 06:19am

Currency Pair: NZD/JPY

Sentiment: Bullish

Market focus:

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

Fundamentals:

The yen continued to plummet across the board as BOJ Governor Kuroda said he saw no limit to what steps the central bank could take in its goal to achieve their target inflation rate of 2%.

Looking across to New Zealand we have seen positive employment figures overnight which helped boost the Kiwi. Good trading opportunities should be found in the NZD/JPY for the session ahead.

Technicals:

We have a nice confluence zone at 88.35-88.20. This should offer short term resistance for any pullback.

Stop loss could be placed at 87.85

Take profit target: 88.80

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Source:: Trading Outlook: NZD/JPY

About the Author
Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"]www.facebook.com/JarrattDavisForex/[/social] [social type="twitter"]https://twitter.com/jarrattdavis[/social] [social type="google-plus"]https://plus.google.com/+JarrattdavisForexTrader/[/social] [social type="youtube"]https://www.youtube.com/user/JarrattDavisForex[/social]

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