NZD - Strong Bearish
1️⃣ The rise of COVID-19 cases around the world has caused investors to flee to safe-haven assets.
2️⃣ New Zealand Head of Health Ashley Bloomfield expects this latest spread to hit 50-100 cases.
3️⃣ The RBNZ kept interest rates at a low of 0.25% at its August meeting amid concerns over the latest COVID-19 spread.
4️⃣ New Zealand implements level 4 restrictions nationwide.
JPY - Strong Bullish
1️⃣ A decline in US Treasury yields boosted demand for the JPY.
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Technical
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We are selling the NZDJPY below SBR levels.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ The rise of COVID-19 cases around the world has caused investors to flee to safe-haven assets.
2️⃣ New Zealand Head of Health Ashley Bloomfield expects this latest spread to hit 50-100 cases.
3️⃣ The RBNZ kept interest rates at a low of 0.25% at its August meeting amid concerns over the latest COVID-19 spread.
4️⃣ New Zealand implements level 4 restrictions nationwide.
JPY - Strong Bullish
1️⃣ A decline in US Treasury yields boosted demand for the JPY.
======
Technical
======
We are selling the NZDJPY below SBR levels.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
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