Chapter 37 Will the war situation give strength to the JPY?
22//10/2023
Summary
The war between Israel and Palestine leads the market
Fundamental analysis
Fundamentally we know during war situations normally save heaven assets will rise such as the Japanese yen Because of that we're expecting to see the Japanese yen gain more strength, On the other hand, we don't have that much fundamental news on the New Zealand dollar this week.
Technical analysis
In this 4-hour diagram chart, the market price is 87.283 we expect the price to move up to the previous supply zone at 88.500 and from there we expect the price to turn back down to the old demand zone at 87.000 Following the daily chart downtrend with 20 moving averages pointing down.
Trading Recommendation
Trading Direction: Short
Entry Price:88.097
Target Price:87.089
Stop Loss:88.603
