A1 Trading

Why Investors Are Loving This Pair Right Now

October 15, 2021
Frank Cabibi

10/15/2021

NZDJPY skyrockets this morning 1.16% on the trading day moving more in a week than it has in several months. This recent jump in buying came from the Reserve Bank of New Zealand announced that they will raise rates four times in 2022 while Japan has yet to declare an interest hike.

Our outlook

Although price has jumped over 4% in the past week, there is still potential for the pair to continue making gains. We have been expecting an announcement like this since the summer time when the RBNZ was talking about sooner-than-expected hikes more so than most countries' national banks. The problem now is to watch out for FOMO buying here since price has risen at a much higher rate than expected. I definitely think price can continue to run, but I think we have to start expecting a retrace here soon.

Trade Setups

NZDJPY

NJ tears above all resistance and hits a high for the year of this strong fundamental news. Price broke resistance at 80.193, and a close above this level will be promising that for the bullish investors. A close above this level will likely mean more stability up at this price as breaking a yearly high could serve as very clean support.

The EdgeFinder

All-in-one Fundamental Dashboard

30 Days Access

Free Telegram

Join for daily analysis and trade setups!

Join Telegram

DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
Signals

A1 Trading Company

A1 Trading is a leading financial analysis and trading education company dedicated to empowering traders of all levels. Our team combines extensive market knowledge with cutting-edge technology to provide valuable insights and tools for traders worldwide.
2024 All Rights Reserved | A1 Trading Company
There is a significant degree of risk involved in trading securities. With respect to foreign exchange trading, there is considerable risk exposure, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.
homesmartphonelaptop-phonecross-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram