NZD/JPY: breakout imminent… but in which direction?
As trading winds down ahead of the long Easter holiday weekend, most markets are going into consolidation mode with trading ranges narrowing down. But unlike the Western stock exchanges, the FX markets will remain open on Friday and next Monday. Volumes will most likely be on the thin side, but that doesn’t necessarily mean volatility will be low. In fact, because of the lower expected volumes, the potential moves may well be more pronounced than would normally be the case during news releases and other unexpected announcements. Looking at the economic calendar, only a handful of macro pointers are due for release ... (full story)