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Friday, April 21, 2017 8:54:05 AM
NZD/JPY: short market review and forecast
The NZD/JPY rates is in the frames of rapid downward trend. However, the new Zealand dollar had stopped falling and consolidated in the range 76,0 - 76,76 JPY. Yesterday it's been received important statistics related with 2 currencies. Economic statistics from New Zealand, positively impacted the NZD. The consumer price index grew in 2.2% year on year, exceeding forecasts. It is also the highest annual growth rate since 2011. For the 1st quarter of the year the index grew in 1%, slightly exceeding forecasted 0.8% level. At the moment, that was enough to stabilize the exchange rate of the NZD. In a week, the market expects new data about trade balance of New Zealand that may affect the value of the NZD.
On the other hand, the trade balance of Japan, already known, and taking into account seasonal fluctuations, amounted to only 0.17 T, although it was expected that this indicator will be 3 times more, and will be at 0.61. That's disappointed investors, although overall the economy of Japan is at good level. Volume of exports and imports grew, and exceeded predicted forecasted values. This also becomes the main growth factor of the Japanese economy in the future. Investors expect growth by 1% in 2017.
At this moment, the oscillators MACD, Stochastics, the RSI are neutral. It should be noted that since April 10, we can see formation of the flat trend, thought at the moment, it is early to say about ending of the downtrend. There're no enough preconditions for that. You should pay attention to the points of entry 76.75 and 76.2 JPY. At the moment, upon medium-term trading, it is recommended to open the short deals on the trend.
Read more at https://superforex.com/analytics
The NZD/JPY rates is in the frames of rapid downward trend. However, the new Zealand dollar had stopped falling and consolidated in the range 76,0 - 76,76 JPY. Yesterday it's been received important statistics related with 2 currencies. Economic statistics from New Zealand, positively impacted the NZD. The consumer price index grew in 2.2% year on year, exceeding forecasts. It is also the highest annual growth rate since 2011. For the 1st quarter of the year the index grew in 1%, slightly exceeding forecasted 0.8% level. At the moment, that was enough to stabilize the exchange rate of the NZD. In a week, the market expects new data about trade balance of New Zealand that may affect the value of the NZD.
On the other hand, the trade balance of Japan, already known, and taking into account seasonal fluctuations, amounted to only 0.17 T, although it was expected that this indicator will be 3 times more, and will be at 0.61. That's disappointed investors, although overall the economy of Japan is at good level. Volume of exports and imports grew, and exceeded predicted forecasted values. This also becomes the main growth factor of the Japanese economy in the future. Investors expect growth by 1% in 2017.
At this moment, the oscillators MACD, Stochastics, the RSI are neutral. It should be noted that since April 10, we can see formation of the flat trend, thought at the moment, it is early to say about ending of the downtrend. There're no enough preconditions for that. You should pay attention to the points of entry 76.75 and 76.2 JPY. At the moment, upon medium-term trading, it is recommended to open the short deals on the trend.
Read more at https://superforex.com/analytics
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