Happy Friday! It’s been such an eventful week in the Forex markets and here we are, just a couple hours away from the close. I’m really looking forward to the spectacular movement we’ve been seeing to continue into next week. Want to see trends being put into place so we can profit from it, right?
So, my pick for Chart of the Day is NZD/JPY. “Why?” you may ask. It is because the overall trend appeals to me. NZD/JPY moved about 125 pips to the upside today which may be modest for some, but I thought it was a nice solid trade. It is not very heavily traded, so it may not move as quickly as EUR/USD but when the opportunity arises…why not take it? Here is today’s chart:
My thoughts are that NZD/JPY will continue its upward move. Click here for a better picture of the trend of the pair. It went up, ran into a period of consolidation, up again and I expect it to continue to do so. Nothing is for certain in this market so we will have to see what happens in the future, beginning next week. Of course, I will keep you updated!
Hope everyone enjoys their weekend. See you all on Monday! 😀