NZDJPY Callout from London Session Open
NZDJPY BUY 📈
💰Take Profit 1 - 88.68
💰Take Profit 2 - 89.18
💰Take Profit 3 - 89.68
❌ Stop loss - 86.88
Here is my analysis of NZDJPY:
The NZDJPY pair has been in a bullish trend for the past few weeks, and it is currently trading near the top of its range. The current spot rate is 87.64, and a buy entry point of 87.88 is just below the recent high of 88.00.
There are a few reasons why NZDJPY could continue to rise in the near term. First, the NZD is generally seen as a commodity currency, and it has been strengthening against the JPY in recent weeks as commodity prices have risen. Second, the New Zealand economy is expected to grow in the near term, which could support the NZD. Finally, the Japanese economy is facing some headwinds, which could weaken the JPY.
However, there are also some risks to consider before entering a trade on NZDJPY. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for New Zealand and Japan is uncertain, which could impact the price of NZDJPY.
Overall, I think NZDJPY is a good pair to trade for those who are looking for a long-term bullish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.
Here are some additional factors that you may want to consider before entering a trade on NZDJPY:
The economic outlook for New Zealand and Japan.
The level of volatility in the forex market.
The price of commodities, such as oil and gold.
💰Take Profit 1 - 88.68
💰Take Profit 2 - 89.18
💰Take Profit 3 - 89.68
❌ Stop loss - 86.88
Here is my analysis of NZDJPY:
The NZDJPY pair has been in a bullish trend for the past few weeks, and it is currently trading near the top of its range. The current spot rate is 87.64, and a buy entry point of 87.88 is just below the recent high of 88.00.
There are a few reasons why NZDJPY could continue to rise in the near term. First, the NZD is generally seen as a commodity currency, and it has been strengthening against the JPY in recent weeks as commodity prices have risen. Second, the New Zealand economy is expected to grow in the near term, which could support the NZD. Finally, the Japanese economy is facing some headwinds, which could weaken the JPY.
However, there are also some risks to consider before entering a trade on NZDJPY. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for New Zealand and Japan is uncertain, which could impact the price of NZDJPY.
Overall, I think NZDJPY is a good pair to trade for those who are looking for a long-term bullish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.
Here are some additional factors that you may want to consider before entering a trade on NZDJPY:
The economic outlook for New Zealand and Japan.
The level of volatility in the forex market.
The price of commodities, such as oil and gold.