Ready to Start Trading?
Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.
Apply onlineAny Questions?
Contact us:
phone: +1 849 9370815
email: sales@tradersway.com
NZD/JPY has been on a steady uptrend on its 1-hour time frame and might be ready to push higher, given the RBNZ’s hawkish rhetoric in their latest interest rate decision. Although the central bank kept interest rates unchanged, they did hint that they could hike if inflationary pressures remain strong.
Right now, the pair is hovering at the middle of the rising channel in a consolidation pattern. Stochastic is still pointing up and moving towards the overbought zone, which means that there’s enough upward momentum left. A rally could take the pair from its current levels to the top of the channel while a selloff could still find support at the bottom of the channel.
An aggressive long entry could be set at market and aiming for the top of the channel while a more conservative entry could be set at the bottom of the channel and targeting the top of the channel.
By Kate Curtis from Trader's Way
Any Questions?
Email Us: sales@tradersway.com
Instrument | Bid | Ask | Spread |
---|
Instrument | Bid | Ask | Spread |
---|
Instrument | Bid | Ask | Spread |
---|
Instrument | Bid | Ask | Spread |
---|
2023 Martin Luther King Holiday Schedule
Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....
Learn more