[B]My picks:[/B] Range Trade NZD/JPY
[B]Expertise:[/B] Fundamentals and Technicals
[B]Average Time Frame of Trades:[/B] 2 - 10 Days
The surge in the NZD/JPY last week failed to trigger my short entry at 52.28, the 3/20 low, however, the lack of momentum to break above the 200-Day is likely to hold the pair within a broad range over the near-term, and we are likely to see the kiwi face increased selling pressures over the week as the economic docket is expected to reinforce a weakening outlook for growth and inflation. As a result, I have sold the NZD/JPY at market (57.40) and expect the pair to retrace the advance from the previous week, and have placed my target at 54.43, the 50-Day SMA, with my stop at 58.15, the 200-Day SMA.
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