NZDJPY recently broke the ascending trendline and did a retest earlier in the London session. With New Zealand's recent poor GDP data, it is showing signs of exhaustion while we can expect the Yen as a safe haven asset to increase in demand in view of wave 2 pandemic. Thus, we can expect more downside movement towards the next strong key level as shown in the chart. Trade safe guys!Trade active
Trade closed: target reached
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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.