NZDJPY - SELL - 15th March 2022




NZDJPY - SELL - 15th March 2022 (Closed)


Good afternoon team,

 

Finally a win on the NZDUSD which was closed out with an 82 pip profit this morning. We are staying focused on the NZD but moving across to the NZDJPY. There has been a really nice technical breakdown here from a rising wedge formation which is also at a key resistance zone. This breakdown is occurring leading into the FED interest rate decision later this week. The market is expecting an interest rate hike from the FED which should put pressure on “risk” currencies like the AUD, NZD and CAD.

Trade Setup:  SELL market execution, current price 79.70, stop loss 80.34 and take profit target 78.35-77.58

Stop loss: 64 pips

Take profit: 135-212

Trade Setup
SELL - Market Execution

Entry
79.70

Take Profit
78.35-77.58

Stop Loss
80.34