NZDJPY should be slightly SELL because the MARKET RISK is off now. Also, since NZD RATES are high, we expect NZDJPY to go UP again. We look forward to the future behavior of NZDJPY. The reason is because the interest rate of NZD is higher compared to JPY. Either way, NZDJPY should be LONG TERM DOWN.
Anyway, the PRICE can go down again on the NZDJPY MAIN SUPPORT, if the MARKET RISK OFF continues, to the 83.58 LEVEL. Earlier NZDJPY was SELL due to strong JPY and MARKET SENTIMENT is RISK OFF. After that, you can definitely BUY at 88.59 LEVEL. For that, MARKET RISK should be ON. STOCK UP, VIX DOWN, JPY WEAK. Besides, the USD should be WEAK. nzdjpy