NZD/JPY once paid 7%
The days of carry are long gone but perhaps the run in NZD/JPY for the past two weeks reveals that they will soon return.
The days of 7% carry in NZD/JPY are long gone but the persistent bid in the pair along with a broader reflationary narrative could continue to underpin the pair. I keep looking for a pullback that never comes. The pair have been on the opposite ends of the FX spectrum every day this week and for most of last week in a classic breakout.
The weekly chart shows the long period of consolidation as hiccups around delta hit but the break has been impressive. It will face a big test at 84.90 but the strength of the move so far is grounds for optimism.
Invest in yourself. See our forex education hub.
This article was originally published by Forexlive.com. Read the original article here.
Leave a Reply