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Long NZDJPY

by Janko N, February 1, 2021

NZD/JPY H4 Fundamental

by Janko Nikolic February 1, 2021

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NZD/JPY

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Long

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H4

Timeframe:

H4

Analysis Method:

Fundamental

Analysis:

The reflation trade narrative supports NZD. No further easing is expected from RBNZ in the future. The recent pullback in the risk tone is a good opportunity to re-engage in the medium term.

Trade Plan:

Long at 75.20, stop 74.80 Target 76.80

Risk Management:

Risking 1%

Things To Watch For:

Any negative news on the vaccine front as well as the US stimulus bill that could trigger the risk-off tone. Sell off in the equity space.

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    1. Hi Saul,
      What I mean by that is if there is some more downward pressure in equity indices like S&P, DAX, ASX. So far the indices are recovering slowly, which is helping the risk tone, hence NZD, AUD.
      Also, the VIX index is one to watch, it would be ideal to see VIX in the 21-25 range.

      1. So sell-off in equity space will invalidate the trade Idea, but it will give us a better price to buy at a later stage if all the fundamental reasons stay the same.

  1. NIce idea ! I am in the direction ! but for me I would like to have this price action on H1, it would be ideally and fit with your idea 🙂 let see how will react the market

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