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NZD/JPY Signal - JPY Current Account - 8 Mar 2021

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Signal Details
Entry Price: 
77.780
Take Profit: 
79.00
Stop Loss: 
77.00
Direction: 
Buy
How we trade
Average: 5 (1 vote)

NZDJPY is trending to the upside today after the JPY Current account data came in at below consensus (646.8 B actual vs 1229.6 B cconsensus), which is typically bearish for the JPY. Technically the pair is above the moving average ribbon on the 4h chart, showing a long term up trend, and we anticipate continued upside into the 79 level.

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.