NZD - BULLISH
1️⃣ The unemployment rate in New Zealand dropped to 4.7% in the first quarter of 2021, down from 4.9% the previous quarter and lower than the market's expectation of 4.9%.
2️⃣ Positive risk sentiment supported the antipodeans.
JPY - BEARISH
1️⃣ Risk-on tone weighing on the safe-havens JPY.
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Technical
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We are buying the NZDJPY on the support + above SMA 50 on the H1 chart.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.