NZDJPY follows the equities as Risk On/Off indicator

NZDJPY is one of the pairs pair that has a strong correlation to equities. Nikkei and DAX are +92/90 correlated to NZDJPY and that is extremely high correlation, so they are moving in the same direction. Most important Yen crosses ( USDJPY, AUDJPY, NZDJPY) are an excellent Risk ON/OFF indicator. As the rate of one currency increases relative to another, investors are attracted to the higher yielding currency. Technically NZDJPY is bullish but we see an inner trend line that has been broken
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