Each day Foreign exchange Information and Watchlist: NZD/JPY

A scarcity of contemporary catalysts received merchants worrying about geopolitical tensions from final week.

Will at present’s market themes prolong NZD/JPY’s downswing?

Earlier than transferring on, ICYMI, I’ve listed the potential economic catalysts that you need to watch out for this week. Verify them out earlier than you place your first trades at present!

And now for the headlines that rocked the markets within the final trading sessions:

Contemporary Market Headlines & Financial Information:

New Zealand’s providers index plummets from 49.eight to 45.9 in Jan, the bottom since Oct 2021

Brent crude briefly trades above $96 on Russia-Ukraine tensions

Australia shares rise on vitality, gold enhance

Geopolitical dangers, U.S. inflation weigh on Asian FX as greenback stays buoyant

FOMC member Bullard to present an interview at 4:00 pm GMT
ECB President Lagarde to testify earlier than the European Parliament at 4:15 am GMT
New Zealand customer arrivals at 9:45 pm GMT
Japan’s preliminary GDP at 11:50 pm GMT
RBA’s assembly minutes at 12:30 am GMT (Feb 15)
U.Ok.’s labor market numbers at 7:00 am GMT (Feb 15)

Use our new Currency Heat Map to shortly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️

What to Watch: NZD/JPY

NZD/JPY 1-hour Forex Chart

NZD/JPY 1-hour Foreign exchange Chart

No main financial studies or catalysts confirmed up at present, so market gamers continued to commerce their fears of elevated geopolitical tensions between Russia and Ukraine (and the U.S.).

Within the FX house, this meant energy for safe-havens just like the yen and weak spot for high-yielding bets just like the Aussie and Kiwi.

NZD/JPY has now damaged beneath a pattern line that’s been supporting the pair since late January.

Kiwi is sporting lengthy wicks across the 76.50 ranges however up to now it hasn’t seen sustained shopping for strain. It additionally doesn’t assist that NZD/JPY is buying and selling beneath the 100 and 200 SMA on the 1-hour chart.

Are we seeing a breakdown of NZD/JPY’s short-term uptrend?

I’m not seeing top-tier studies on the docket within the subsequent buying and selling classes so we might see the Russia-Ukraine and U.S. inflation headlines proceed to play out. Except we see constructive headlines, NZD/JPY will seemingly prolong its downswing and head to areas of curiosity like 76.00 or 75.80.

If we see promising headlines, nonetheless, or if U.S. merchants began the week by taking dangers, then NZD/JPY might return to its uptrend above the 100 and 200 SMA.

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