NZD/JPY Hits Target

Our most recent trade setup on NZD/JPY is trading somewhat far away from our target at the 71.300 price area. Nevertheless, we have adjusted to take profit at the current price level (we are roughly out 40-50 pips away from the aforementioned price target). We are of the view that profit taking amidst a very volatile environment have created a near-term support at the 71.30 price level. Price is currently finding support here and due to our risk mitigation strategy we are quite convinced that we should look to close in on the trade which is roughly around 29-35 pips in profit from our entry point as at the time of publish.

NZD/JPY 1-Hour chart showing price closed out in +29.6 pips in profit

In monetary terms, for instance, clients that traded with:

N100 (trading amount) * 29.6 points = N2,960 N1000 * 29.6 points = N29,600 N2000 * 29.6 points = N59,200 N10,000 *29.6 points = N296,000

N.B: Depending on the trading amount returns could be lower or higher than the above examples.

At EGM, will would always strive to ensure that our clients are profitable!

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