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

Question

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.

ortiz_lucas · Accepted Answer

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.

marek_n · Answer

I'm new to NZDJPY, what's been driving its resilience lately? Is it just the carry appeal or are there other factors at play that I should be looking into?

qing_watanabe · Answer

93.00 is a possibility, but a 60% probability seems optimistic given current market volatility and the general risk-off sentiment. Carry appeal can only do so much against broader trends.

takin2539 · Answer

I agree, NZDJPY has shown impressive strength recently. While 93.00 seems plausible, I'm curious if you're factoring in any potential profit-taking pressures as we approach month-end, given the run it's already had.

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

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