NZDJPY - Bullish Bias
NZD - BULLISH
1️⃣ Investors proved optimistic on the prospects of faster growth, while local bond yields stabilized after their run-up on inflation concerns. The yield on New Zealand's 10-year government bond jumped to yearly highs of 1.72%, while US 10-year yields eased to 1.362%.
2️⃣ New Zealand’s foreign currency rating to AA+ from AA and its local currency rating to AAA from AA+, citing faster-than-expected economic recovery.
JPY - BEARISH
1️⃣ Market participants exercise caution amid rising bond yields both locally and in the US as US 10-year yields remained elevated at yearly highs of 1.362%, while Japanese 10-year yields hit over 2-year highs of 0.115% amid lingering speculation the BOJ could widen the 40-basis-point band under which it allows 10-year yields to move around its 0% target.
2️⃣ Prospect on faster growth weighing on the safe-haven asset such as JPY.
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Technical
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We are buying the NZDJPY on the RBS + above SMA 50 on the H1 chart.
1️⃣ Investors proved optimistic on the prospects of faster growth, while local bond yields stabilized after their run-up on inflation concerns. The yield on New Zealand's 10-year government bond jumped to yearly highs of 1.72%, while US 10-year yields eased to 1.362%.
2️⃣ New Zealand’s foreign currency rating to AA+ from AA and its local currency rating to AAA from AA+, citing faster-than-expected economic recovery.
JPY - BEARISH
1️⃣ Market participants exercise caution amid rising bond yields both locally and in the US as US 10-year yields remained elevated at yearly highs of 1.362%, while Japanese 10-year yields hit over 2-year highs of 0.115% amid lingering speculation the BOJ could widen the 40-basis-point band under which it allows 10-year yields to move around its 0% target.
2️⃣ Prospect on faster growth weighing on the safe-haven asset such as JPY.
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Technical
=====
We are buying the NZDJPY on the RBS + above SMA 50 on the H1 chart.
Trade active
Trade closed manually
✅Close Manually At 77.130+13 PIPS
We are exit position ahead Fed Chair Powell Testifies. The speech could turns the market.
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