Building a short position NZDJPY
Updated
As our analysis for possible Kiwi cutting rates in the coming year and BOJ standing on the sidelines for now. We are anticipating JPY strength in 2016 thus will accumulate position on rallies. Daily close above 83.800 will invalidate our outlook.
Note
We are half way to our target of 1:5 risk/reward trade. This might have some more momentum to go but you may book some profits and let the rest run.
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