NZD slides against the Japanese YenThe New Zealand Dollar (NZD) is trading bearish against the Japanese Yen (JPY) at 87.386 on Friday, October 27, 2023, following comments from Japan's Chief Cabinet Secretary Taro Matsuno that the Bank of Japan (BoJ) is expected to conduct appropriate monetary policy.
Matsuno's comments come amid rising expectations that the BoJ will eventually tighten monetary policy in response to rising inflation in Japan. The BoJ has been maintaining an ultra-loose monetary policy stance for many years, but this has led to a significant weakening of the JPY in recent months.
The NZDJPY currency pair has been under pressure in recent weeks as investors have priced in the possibility of a more hawkish BoJ. The pair has fallen by over 5% since the start of October.
The bearish outlook for NZDJPY is further supported by the technical outlook. The pair has broken below a key support level at 88.00, and is now on track to test the next support level at 86.50.
Factors Weighing on NZDJPY
There are a number of factors weighing on NZDJPY at present, including:
Expectations of BoJ tightening: The BoJ is expected to be one of the last major central banks to tighten monetary policy, which is putting downward pressure on the JPY.
Rising inflation in Japan: Japan's inflation rate has been rising in recent months, which is putting pressure on the BoJ to tighten monetary policy.
Global risk aversion: Global investors are currently risk averse, which is leading to a sell-off in riskier assets such as the NZD.
Weak New Zealand economic data: The New Zealand economy has been slowing in recent months, which is weighing on the NZD.
Technical Outlook for NZDJPY
The technical outlook for NZDJPY is bearish. The pair has broken below a key support level at 88.00, and is now on track to test the next support level at 86.50. If NZDJPY breaks below 86.50, it could fall to 85.00 or even lower.
Trading Strategy
Traders who are bearish on NZDJPY could consider shorting the pair at current levels. A stop loss could be placed above the recent high at 88.00. A profit target could be placed at 86.50 or 85.00.
It is important to note that the foreign exchange market is volatile and prices can move quickly. Traders should always use risk management techniques when trading currencies.
NZD
NZDJPY to find sellers at market?NZDJPY - 24h expiry
There is no clear indication that the upward move is coming to an end.
A higher correction is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 87.00 will confirm the bearish momentum.
The measured move target is 86.25.
We look to Sell at 87.42 (stop at 87.82)
Our profit targets will be 86.42 and 86.22
Resistance: 87.50 / 87.75 / 88.00
Support: 87.00 / 86.50 / 86.25
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
NZDUSD: Waiting For Confirmation 🇳🇿🇺🇸
I have perfectly predicted an intraday bearish movement after a breakout yesterday.
Analyzing a 4H time frame, we can spot an intraday consolidation now and a formation of a horizontal range.
The next bearish wave will be confirmed after a breakout of the support of the range.
4H candle close below 0.5808 will confirm a violation.
A bearish continuation will be expected to 0.8775 level then.
❤️Please, support my work with like, thank you!❤️
AUDNZD BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity AUDNZD
I still did my best and this is the most likely count for me at the moment.
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Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
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NZDUSD rallies continues to attract sellers.NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Momentum is flat, highlighting the lack of clear direction.
Further downside is expected.
A move through 0.5800 will confirm the bearish momentum.
The measured move target is 0.5750.
We look to Sell at 0.5860 (stop at 0.5892)
Our profit targets will be 0.5780 and 0.5760
Resistance: 0.5860 / 0.5880 / 0.5900
Support: 0.5800 / 0.5775 / 0.5750
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
NZDCAD BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity NZDCAD
I still did my best and this is the most likely count for me at the moment.
Support the idea with like and follow my profile TO SEE MORE.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Patience is the If You Have Any Question, Feel Free To Ask 🤗
Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
NZDCHF BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity NZDCHF
I still did my best and this is the most likely count for me at the moment.
Support the idea with like and follow my profile TO SEE MORE.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Patience is the If You Have Any Question, Feel Free To Ask 🤗
Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
NZDUSD: Support breach, down to 0.56?Looking for a further decline is this cross over the week.
We have seen continued NZD weakness over the past few days, with no fundamentals of note for this currency in the week.
Even though I'm noticing USD slow-down, and a likely retracement due to the over-extended current uptrend, I still think this pair will fall as the USD will remain stronger than the USD.
Support seems to have been broken, but I'm monitoring closely as we may retest after an initial drop from here.
My target will be 0.56 as this is the next significant support below this point and we ['re still some way off an ATL.
NZDJPY: Bearish Scenario is much more probable!Hello traders.
There are 2 scenarios available for the pair!
Bullish one: after breaking the trend line and 87.70 a buy order will be set around 87.40 . TPs are 88.60 and 89.75 .
Bearish one: After breaking below the 86.75 a short order will be set around 87.10 or 87.00.
TPs will be around 85.20 and 83.70 .
NZDUSD to find sellers at 38.2% pullback?NZDUSD - 24h expiry
We have a 38.2% Fibonacci pullback level of 0.5907 from 0.6055 to 0.5815.
The primary trend remains bearish.
Preferred trade is to sell into rallies.
Prices have reacted from 0.5815.
We look for a temporary move higher.
50 4hour EMA is at 0.5913.
We look to Sell at 0.5907 (stop at 0.5933)
Our profit targets will be 0.5842 and 0.5822
Resistance: 0.5880 / 0.5900 / 0.5930
Support: 0.5830 / 0.5815 / 0.5800
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
nzd/chf Week's LOW
Last week's low was not breached! However, it bounced back impressively! The previous week's high is quite far, almost halfway for potential trading! Let's use a tight stop because we are anticipating a bounce from the weekly low! It attempted several times to break below but couldn't sustain, and it bounced back nicely! Let's see if it will go higher!
NZDUSD to turnaround?NZDUSD - 24h expiry
The selloff is close to a correction count on the intraday chart.
We expect a reversal in this move.
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5900 will confirm the bullish momentum.
We look to Buy at 0.5875 (stop at 0.5843)
Our profit targets will be 0.5955 and 0.5975
Resistance: 0.5900 / 0.5925 / 0.5950
Support: 0.5875 / 0.5860 / 0.5840
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
NZDCHF Potential DownsidesHey Traders, in today's trading session we are monitoring NZDCHF for a selling opportunity around 0.53250 zone, NZDCHF is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.53250 support and resistance area.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.59300 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.59300 support and resistance area.
Trade safe, Joe.
AUDNZD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDNZD for a selling opportunity around 1.07300 zone, AUDNZD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.07300 support and resistance area.
Trade safe, Joe.
NZDCAD Potential DownsidesHey Traders, in the coming week we are monitoring NZDCAD for a selling opportunity around 0.80600 zone, NZDCAD was trading in an uptrend and successfully managed to break it out. Currently we are waiting for a correction in order to see a potential retrace of the trend towards more lows.
Trade safe, Joe.
NZD/CHF 4HWhoops! Let's wait a bit on this. But this looks promising :) The CHF pairs have been all over the place lately; it's challenging to determine the exact direction. I've been keeping an eye on it for a few days, and I think this could be it! Take a look at my gold trades too! Go for it, but be cautious!
NZD/USD Targets for Election NightFancy selling into uncertainty? This could be a scenario for the NZD/USD in the lead up to the election in New Zealand which is way too close to call for either major political party right now (Labour vs National). Voting has been open all week and closes October 14, with the winner called the same day (but after the close of this trading week).
Polls have the right leaning National party carving out a small lead at the moment, but some hiccups have seen this lead shrink in the past week (e.g., The were caught knowingly lying about amount the average person would receive from their promised tax cuts)
National has also promised to remove the Reserve Bank of New Zealand's mandate to consider employment in its interest rate decisions, which could shift the central bank to a more dovish bias (as current strong employment figures in NZ are perhaps heightening its proclivity to hike). Combine this with the general uncertainty induced by the election, and some downside targets for the NZD/USD could be charted in anticipation for election night and the Monday following the results.
The recent touch point for the 0.5861 is the most obvious target that the pair will have to overcome if it wants to seek lower targets. This would also open up new 2023 lows, with 2022 benchmarks helping set possible targets.