Good afternoon team,
Today we are looking at the NZDJPY. Markets have moved in a risk on mode however looking technically we see a potential move back towards the safe havens. Please read our full fundamental write up in telegram.
NZDJPY has broken a key trend line followed by a retest earlier this afternoon.
NZDJPY – 4 Hour Charts
We are now looking to enter a sell position expecting another leg lower.
Trade setup: SELL – Market execution, current price 69.60, stop loss 70.70 and take profit 67.10.
Stop loss: 110 pips
Take profit: 150 pips