NZDJPY skyrockets this morning 1.16% on the trading day moving more in a week than it has in several months. This recent jump in buying came from the Reserve Bank of New Zealand announced that they will raise rates four times in 2022 while Japan has yet to declare an interest hike.
Although price has jumped over 4% in the past week, there is still potential for the pair to continue making gains. We have been expecting an announcement like this since the summer time when the RBNZ was talking about sooner-than-expected hikes more so than most countries' national banks. The problem now is to watch out for FOMO buying here since price has risen at a much higher rate than expected. I definitely think price can continue to run, but I think we have to start expecting a retrace here soon.
NJ tears above all resistance and hits a high for the year of this strong fundamental news. Price broke resistance at 80.193, and a close above this level will be promising that for the bullish investors. A close above this level will likely mean more stability up at this price as breaking a yearly high could serve as very clean support.
12/2/2021 US equities fell 5% from the highs after fears of a new coronavirus variant emerged and the first case was recorded in the US. SPX500 is up .10% on the day at the time of writing this. Our outlook The new omicron variant is definitely concerning most investors right now as the US will […]
Check out my previous G/U deep dive from early October here to see how we have progressed... Technical Outlook: Price has mainly been travelling in channels throughout the past year. As we saw the ascending channel formed post-Covid last year, price began retesting all previous key horizontal levels. Over the past couple of months, price has […]
11/30/2021 Gold price rose 0.59% on the day at the time of writing this in light of the uncertainty surrounding the Fed's policy towards the new variant and tapering of asset purchases. Our outlook I think gold will likely see some green today as the virus concerns can cause a slow in growth since the […]