Our free forex signals service today looks at the NZD/JPY pair and we have the entry, stop and take profits levels for you.
The New Zealand Dollar is becoming the center of trade in the Asia-Pacific region. Traders look optimistic, and venture capital funds are growing cautiously. New Zealand’s trade surplus exceeded NZ$261 million in June, up from NZ$469 million in the previous month. However, the decline was due to an excessive increase in imports versus exports, indicating an intensification of cross-border trade. This may indicate a general strengthening of trade in the Asia-Pacific region. The kiwi dollar is slightly higher than its US equivalent this morning.
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The Asia-Pacific region will also show business and consumer confidence in New Zealand this week and producer prices in Australia. South Korea’s GDP in the second quarter and China’s industrial growth may also pose certain risks for the events of the coming days. The main event of the coming days is the Fed’s rate decision. Policymakers are expected to support the adjustment policy, but central bank observers will use any change in the Fed’s wording to estimate when the QE bond purchases will expire and the interest rate will normalize.
Data on PMI in manufacturing and services for July will be released in Japan today. The 2021 Olympic Games kicked off in Tokyo this weekend. Due to the recent wave of Covid-19, the international sporting event will be held under strict social distancing rules. About 1,800 cases were reported in Tokyo on Sunday, up from nearly 1,000 a week ago.
NZD/JPY free forex signals
Instrument: NZD/JPY
Order: BUY STOP
Entry price: 77.330
Stop Loss: 76.478
TP1: 78.349
Recommended Risk: 1%
Risk / Reward Ratio: 1:1.2
Signal validity period: Good until cancelled
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Saqib Iqbal
