NZDJPY - POSSIBLE EXCELLENT SHORT POSSITION

2019年6月7日

As i stated in previous charts with the NZD when in a resestion the NZD will normally not hold and drop 7% leaving a possible 3% left to drop, from saying that the NZD did rise 1.89% to reach 72.020. in the process of the NZDJPY doingnthat it has formed another trend still a bullish trend but not as steep as the previous. This trade could work depending on the JPY news that is coming out on saturday and sunday.
- BoJ's Governor Kuroda Speech
- Banking Lending (MAY)
- GDP Deflator (Q1)
- GDP Annunualised (Q1)
- GDP (QoQ)(Q1)
- Trade Balance (BOP basis) (APR)
- Current Account n.s.a (APR)
This news is looking strong for the NZD but looking at it, not not strong enough to break the previous high @ 72.020. The market may rise to 72.069 to test the previous high from 14/MAY/2019. if it breaks that support it shows theat the market is going bullish, if it does not break the restriction, then there is a chance that the NZD is going to go bearish, AS the news for JPY on Monday is looking possitive.
With the previous trend going bullish and doing jumps of 0.74%, this shows the supports and restrictions are week and will highly possibly not hold meaning high jumps and a lot of movement. putting my prediction 1 support @ 71.314.
i would not place the trade on untill the news comes out and seeing what the market is like on monday to predict what the trade will be.