Jason_Dude

NZD/JPY Reached Bottom of Channel

Long
FX:NZDJPY   New Zealand Dollar / Japanese Yen
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1
Having run out of steam at the channel bottom, and lacking a clear fundamental driver lower, I'm bullish over the trading week. I believe a clear return to channell top, with resistance at around 65.31 and 66.43 that shouldn't do much to slow it down. However, if significant event risk takes hold on Tuesday, we could easily see this pair break lower, towards 61.50.

Comments

Completely agree. Looks like the only JPY pair that benefited today was AUD/JPY. There are some interesting yen set ups right now.
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