NZD shorts against JPY longs in a rising-rate world
We have a few very important announcements coming during the European session today...
Here we are starting to become more selective with AUD and NZD, both against JPY should see further downside as the rising-rate environment remains intact.
=> The RBNZ disappointed markets earlier in the week sending yields higher across the curve. NZD caught a bid for these flows, however we see this knee jerk reaction to be over and an opportunity to load shorts.
=> Any possibility of hikes from RBNZ has been pushed back well into 2021 and given the length of time between now and then, we have plenty of room to continue playing the downside in NZD.
On the technical side of things a test of the two support levels seems a done deal and for those looking to add AUDJPY shorts to the basket too we have attached the related idea with our key levels. Initial targets found at 74.2 with our second target 72.7 within reach.
Please continue your support with a thumbs up or comment and thanks for helping us continue to grow further.
Best of luck.
Here we are starting to become more selective with AUD and NZD, both against JPY should see further downside as the rising-rate environment remains intact.
=> The RBNZ disappointed markets earlier in the week sending yields higher across the curve. NZD caught a bid for these flows, however we see this knee jerk reaction to be over and an opportunity to load shorts.
=> Any possibility of hikes from RBNZ has been pushed back well into 2021 and given the length of time between now and then, we have plenty of room to continue playing the downside in NZD.
On the technical side of things a test of the two support levels seems a done deal and for those looking to add AUDJPY shorts to the basket too we have attached the related idea with our key levels. Initial targets found at 74.2 with our second target 72.7 within reach.
Please continue your support with a thumbs up or comment and thanks for helping us continue to grow further.
Best of luck.
