Are you currently trading the NZDJPY? Because I’m thinking about longing it. There are two things that I like about the NZDJPY:
- If you take a look at the long term charts, its clear that it was rejected from an important support level.
- If we get a BOJ intervention, it will be on our favor.
Here is the 15M chart:
Wait for a retracement to the short term support level (lower green level) and if it forms a significant pattern with upward pressure, I’ll be going long.
What do you think?