NZDJPY: Is 93.00 still in the cards by month-end?

asked by u/sarah.martinez · 3h · 1 answers

Been watching $NZDJPY lately and it's been surprisingly resilient, even with some recent risk-off chatter. Currently sitting around 92.243, it had a good run earlier. My gut tells me we're still likely to test the 93.00 handle before the end of the month. I'd put the odds around 60% for that to happen. The reasoning is multifaceted: carry appeal remains strong, and while the RBNZ is on hold, the BoJ's dovish stance provides a stark contrast. We saw a high today of 92.337, which shows some underlying strength. The main risk, of course, is a significant shift in global risk sentiment, but barring a major shock, the path of least resistance seems to be modestly higher for now. A failure to breach 92.50 consistently would certainly reduce those odds for me.

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  • u/ortiz_lucas· 1 pts· 5m

    93.00 by month-end seems a bit ambitious given the current market sentiment. While the carry appeal is there, a lot would need to align perfectly for that to happen.

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