nzdjpy triple top
The pair has formed a triple top in last months and now it will drop towards the 200-day simple moving average at 68.8, it could be the first target of the bearish impulse because if that moving average will be broken nzdjpy could reach even 66.00 which is one of the most important support zones.
New Zeland economy is not performing very well and the RBNZ will lower the interest rates in early 2021, the LSAP purchases programme could be enlarged and this will reduce the NZD value, the GDP in the second quarter fell 12.2% and is expected to be -0.5% in 2021, so the new zeland is in a recession phase; The Bank of Japan will try to reach 2% inflation next year , the economy is still in a severe status but it is picking up especially the exports.
The trade has a good risk/reward ratio , anyway use a proper money management.
Enjoy your trading!!!
New Zeland economy is not performing very well and the RBNZ will lower the interest rates in early 2021, the LSAP purchases programme could be enlarged and this will reduce the NZD value, the GDP in the second quarter fell 12.2% and is expected to be -0.5% in 2021, so the new zeland is in a recession phase; The Bank of Japan will try to reach 2% inflation next year , the economy is still in a severe status but it is picking up especially the exports.
The trade has a good risk/reward ratio , anyway use a proper money management.
Enjoy your trading!!!
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