Currency Pair: NZDJPY
Timeframe: H1
Date/Time of Signal: 29th January 2020 / 1545hrs (SGT)
Review:
With the Coronavirus getting worse in China currency markets are expected to continue to switch to “safe haven” assets such as US Dollar and Yen.
The coronavirus will take a bite out of China’s economy and have a significant impact on China’s GDP this quarter.
Thus, possible impact to New Zealand economy as well.
NZDJPY is on a downtrend and below the resistance level of 72.50.
Following the trend, trade signaled to sell NZDJPY (Entry: 71.21) with 3 Take Profit (TP) Targets (TP1: 71.01, TP2: 70.81, TP3: 70.61) and Stop Loss (SL) at 71.51.
Timeframe: H1
Date/Time of Signal: 29th January 2020 / 1545hrs (SGT)
Review:
With the Coronavirus getting worse in China currency markets are expected to continue to switch to “safe haven” assets such as US Dollar and Yen.
The coronavirus will take a bite out of China’s economy and have a significant impact on China’s GDP this quarter.
Thus, possible impact to New Zealand economy as well.
NZDJPY is on a downtrend and below the resistance level of 72.50.
Following the trend, trade signaled to sell NZDJPY (Entry: 71.21) with 3 Take Profit (TP) Targets (TP1: 71.01, TP2: 70.81, TP3: 70.61) and Stop Loss (SL) at 71.51.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.