Selling Position - NZD/JPY
Similar to CAD/JPY this pair has increased a lot in 1 month by about 6% so with that being said my technical's are showing me that the RSI has hit overbought regions and the stochastic has now start to head down and with NZD hitting recent highs in nearly all majors & lastly it closed below the resistance line which has been around since 2015 and also the trend line (4 confirmations of a sell).
I sense a fatigue hitting the NZD and with an election coming soon in New Zealand. My conclusion is that for the medium term that this is a SELL
I sense a fatigue hitting the NZD and with an election coming soon in New Zealand. My conclusion is that for the medium term that this is a SELL
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.