Technical Analysis
Technical analysis also supports a long position in NZD/JPY:
Market Bottom Formation: Recent technical analysis indicates that the short-term downtrend has halted, and the price is starting to create a market bottom. A recent market high has been broken, suggesting a potential bull run .
Key Structure Levels: The pair is about to retest a key structure level of 95.24, implying a high likelihood of a move up .
Economic Calendar and Upcoming Events
Upcoming events on the economic calendar can also influence the NZD/JPY pair:
Japan’s FY 2024/2025 Annual Wage Negotiations: Preliminary results on March 15 could impact the JPY .
BOJ’s Monetary Policy Outcome: Scheduled for March 19, this event could provide further insights into Japan's economic stance .
Fed FOMC Meeting: The release of the latest dot plot on March 20 could influence global market sentiment .
Conclusion
Longing NZD/JPY is supported by a combination of high-interest rate differentials, strong macroeconomic indicators, favorable technical analysis, and institutional investor sentiment. While risks remain, the overall outlook suggests that a long position in NZD/JPY could be a profitable strategy.
Technical analysis also supports a long position in NZD/JPY:
Market Bottom Formation: Recent technical analysis indicates that the short-term downtrend has halted, and the price is starting to create a market bottom. A recent market high has been broken, suggesting a potential bull run .
Key Structure Levels: The pair is about to retest a key structure level of 95.24, implying a high likelihood of a move up .
Economic Calendar and Upcoming Events
Upcoming events on the economic calendar can also influence the NZD/JPY pair:
Japan’s FY 2024/2025 Annual Wage Negotiations: Preliminary results on March 15 could impact the JPY .
BOJ’s Monetary Policy Outcome: Scheduled for March 19, this event could provide further insights into Japan's economic stance .
Fed FOMC Meeting: The release of the latest dot plot on March 20 could influence global market sentiment .
Conclusion
Longing NZD/JPY is supported by a combination of high-interest rate differentials, strong macroeconomic indicators, favorable technical analysis, and institutional investor sentiment. While risks remain, the overall outlook suggests that a long position in NZD/JPY could be a profitable strategy.
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.
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.