NZD - Weak Bullish 1️⃣ Recovered from a massive sell-off last week after Fed Officer Robert Kaplan considered delaying a reduction in Fed stimulus. 2️⃣ A positive market environment benefits high-beta currencies such as the NZD. 3️⃣ New Zealand retail sales jumped 3.3% in Q2. 4️⃣ New Zealand’s trade balance is also projected to rise in July following a surge in the manufacturing PMI.
JPY - Weak Bearish 1️⃣ The recovery in the stock market is pressing demand on the safe-haven currency JPY.
===== Technical =====
We are buying NZDJPY after it bounced at the support level.
===== Risk to this trade =====
Any change in sentiment could turn the pair's direction.