Extreme volatility of the NZD/JPY

Extreme volatility of the NZD/JPY

Today started with extreme volatility for the New Zealand dollar against the Japanese yen. On the H1 chart of the NZD/JPY, the price made a steep drop from the 69.38 mark to the support level of 68.97 within several hours from 0:00 to 06:00 MT time. Then it reversed straight back and passed all the bullish thresholds, aiming at the resistance level of 69.61. If the rise continues, the further resistance levels may be set at 69.90 and the range of 69.98 – 70.02. Otherwise, the range of 69.31 – 69.35 and the level of 68.97 will be supporting the price from the downside.

NZDJPYH1 November 7.png


May 2020 forex season trading
May 2020 forex season trading

April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.

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