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New Zealand Dollar / Japanese Yen

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NZDJPY trade ideas

Trade report of 22-12Action: CHFJPY: a buy range entered at 166,500 with a target of 170.5. NZDJPY : buy range entered at 90.0 with target 91,623 News: The British economy shrank in the third quarter, according to a negative adjustment. This increases the chance of a recession. An earlier estimate assumed that gross domestic product would have remained unchanged in the third quarter. That was expected again. The previous growth figure of 0.2% in the second quarter has also been reduced. According to the new figures from the British statistical agency ONS, there was no growth in that quarter. The negative adjustment means the British economy is heading for a technical recession – two quarters of contraction in a row – or an even longer downturn. In October the economy already shrank by 0.3% compared to the previous month. This would mean that this loss would have to be made up in the remaining two months. That is not possible in the manufacturing industry. The purchasing managers index for the services sector did show growth in November and December. The personal consumption expenditure price index turned out to be more favorable than previously thought. A price increase of 2.8% was expected compared to November last year, but the increase amounted to 2.6%. In October it was still 3%. This means that inflation is once again weakening more than expected. The so-called core PCE also fell more than expected by 3.2% compared to an expected 3.3%. Compared to a month earlier, this core inflation - adjusted for volatile energy and food prices - amounted to 0.1%. That is better than the 0.2% that was expected and equal to the percentage from a month earlier. The better-than-expected inflation figures are favorable for the financial markets, which have recently strongly anticipated interest rate cuts in 2024. If inflation falls further, there will be room for a lower policy interest rate, for example if economic conditions deteriorate. It is the sixth month in a row that core inflation in the United States has fallen below 4% and it is not the first time that it has fallen more than expected. The peak of the middle of last year is very clearly behind us.
by Probeleg
NZDJPY H4 | Approaching 50% Fibo supportNZD/JPY is falling towards a pullback support and could potentially bounce off this level to rise higher towards our take profit target. Entry: 89.019 Why we like it: There is a pullback support that aligns with the 50.0% Fibonacci retracement level Stop Loss:88.461 Why we like it: There is a pullback support that aligns with the 100.0% Fibonacci projection level Take Profit: 90.405 Why we like it: There is a pullback resistance level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
NZDJPY Will Move Higher! Long! Take a look at our analysis for NZDJPY. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 87.994. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 88.507 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
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