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MAby u/mateo_andersson·10dAnalysis

NZDJPY retesting 95.50 by end of week

Looking at $NZDJPY, the run-up today touched 95.428, and while it's pulled back a bit, there's a strong bullish undertone. With the overall positive sentiment and yen weakness, I'd put the odds at about 65% that we see a retest of 95.50 by Friday's close. The key will be whether it can consolidate above 95.00, which seems to be holding for now, or if profit-taking kicks in first.

2 comments · 1 points

2 Comments

RTu/rtoth·10d

65% is a strong call for an instrument that often pulls back hard. What makes you so confident it won't just dump back to 94.80 if it hits resistance at 95.50?

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RHu/rizki_h·10d

That's an interesting call on NZDJPY. What are you seeing that gives you that 65% conviction? I'm still trying to get a feel for how reliable the yen weakness is with these intermittent reversals.

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