NZDJPY- BUY – 29th April 2020

NZDJPY- BUY – 29th April 2020 (Closed)

Good evening Forex Kings,

A busy couple of days coming up. Tonight we will see the US report their Q1 GDP data which is forecast to reach lows of -4%.

Over the past couple of days we have seen the USD drop significantly as traders digest some positive earnings reports decreasing the demand for safe haven assets.

Markets are beginning to price in economies reopening sooner that expected.

We have just seen a technical breakout on the NZDJPY suggesting further upside may occur.

The market has formed higher highs and lower highs, there is an inclining support level from the major low during the market crash.

Trade setup: BUY Market order (current price is 64.98) Stop loss 64.50 and take profit 66.00.

Stop Loss: 48 pips

Take Profit: 102 PIPS

 

Let us know if you like the colour change on the charts!

Trade Setup
BUY - MARKET ORDER

Entry
65.00

Take Profit
66.00

Stop Loss
64.50