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NZD/JPY is doing its best
Information is not investment advice
NZD/JPY is surviving a period of correction/consolidation within the long-term downtrend. The pair’s currently in the middle of the range and the decisive action of bulls may take it up to its upper border in the 69.70 area (the declining 100-day MA; 50% Fibonacci retracement of the July-August decline). To get a chance to test this area, the price firstly needs to get above the interim resistance of 69.00 (Oct. 11 high). If market sentiment turns sour and NZD/JPY gets rejected on the upside once again, the fall below 68.00 (50-day MA) will make it vulnerable for a decline to support line in the 67.15 zone.
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus