Listen to the market mood for the NZDJPY currency pair in the coming session:

Strong NZD
The NZD was supported on comments from RBNZ Governor Orr who stated that the NZ economy and RBNZ monetary policy are in a good place. The NZD has also been supported on the mild risk-on tones that have come through from Asian equities overnight.

Weak JPY
The JPY is weaker today on gentle optimism after yesterday’s risk concerns on Apple’s projected earnings miss as the Nikkei (+0.73%) and the Hang Seng (+0.48%) moved into positive territory. Hopes of Government stimulus is also supporting the positive risk tone.

Expect NZDJPY buyers on pullbacks.

Risks to This Outlook
Any negative coronavirus related news that may result in JPY buying and NZDJPY downside on risk-off moves.

HYCM Lab is a financial analysis source that provides regular insights on how global news affects the markets including forex, commodities, stocks, indices, and cryptocurrencies*. Run by the HYCM team, it equips traders with everything needed to make informed trading decisions.