NZD/JPY Soars – What’s Coming Next?
My last article on the NZD/JPY outlined why I was looking for long positions at 76.500. The trade idea played out, with bullish seasonality pushing the pair to multi year highs. Price is now reaching multi year resistance at the 82.500 level. I anticipate some overdue correction to occur in the next few trading days, however think that the trend will break through this level clearly.
As I’ve previously outlined, NZDJPY has a strong bullish seasonal tendency right through to the end of the year, and for this reason I am looking for long only opportunities on any correction. I anticipate that the Kiwi-Yen could very well hit the 90.00 level by the end of the year.