NZDJPY Under Pressure as China’s PMI Falls
China’s Caixin Manufacturing PMI unexpectedly dropped to 48.3 in May, down from 50.4 in April, signaling weaker factory activity.
This negative data has weighed on the New Zealand Dollar, pushing NZDJPY to intraday lows near 85.75.
The decline in NZDJPY aligns with fundamental data, increasing the chances of further downside.
Key targets include: 🎯 84.70 🎯 83.50 🎯 82.50
Potential Reversal Zone
However, 84.70 is a strong support level and could act as a turning point for a possible reversal.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
China’s Caixin Manufacturing PMI unexpectedly dropped to 48.3 in May, down from 50.4 in April, signaling weaker factory activity.
This negative data has weighed on the New Zealand Dollar, pushing NZDJPY to intraday lows near 85.75.
The decline in NZDJPY aligns with fundamental data, increasing the chances of further downside.
Key targets include: 🎯 84.70 🎯 83.50 🎯 82.50
Potential Reversal Zone
However, 84.70 is a strong support level and could act as a turning point for a possible reversal.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.