NZDJPY Unikrn Update: In the forex world, the NZD/JPY pair has confirmed below the daily Ichimoku cloud. In the cryptocurrency world, the esports betting platform Unikrn is ready to expand their real money offering throughout 80 percent Europe.
NZDJPY Confirms Below Daily Ichimoku Cloud
The NZD/JPY pair confirmed below the daily Ichimoku cloud as the Tenkan line crosses below the Kijun line. The next support is set at 78.71, while the pair could be moving within a longer-term range, between 83 and 76.
Kiwi Confirms Below Daily Ichimoku – NZDJPY Unikrn Update
As I covered during today’s live strategy development class for out premium investing group members, we could see further drops towards our key support levels within the range. While we could still see a correction towards 79.63, the key pivot and support levels remain at 78.71 and 77.51 respectively.
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Fundamentals: The Japanese Yen has been strengthening ahead of the Oct. 22 snap election in Japan. While the consensus view remains for Prime minister Shinzo Abe to remain in power, it’s fair to keep an eye on the new Party of Hope, led by Tokyo Governor Yuriko Koike. Any ground gained by Koiki remains the outlier to watch. Overall, any significant loss of majority by Abe could lead to JPY volatility that could lead to Japanese Yen strength on uncertainty. With that, further drops in NZDJPY will be inevitable.
Unikrn Awarded License in Malta, Expanding to 80% of EU Zone
Major Esports betting company Unikrn, throughout its highly successful cryptocurrency ICO, has announced a partnership with French bookmaker RPB to create an all-encompassing esports platform – known as Unikrn EU. On top of this, Unikrn has been awarded a gambling license in Malta, a move that will open up its platform to real-money wagering via its UnikoinGold crypto token.
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UnikoinGold – which is based on the ERC-20 Ethereum standard and is currently being distributed via a token sale or ICO – is being deployed as a medium for real-money wagering in licensed jurisdictions. And, with the Malta license, that will mean 80 percent of the European continent.
In regions where Unikrn has a license, spectators can use UnikoinGold to gamble on the outcome of matches. Coins can also be used in-house as a form of tipping. In non-licensed regions, the coins can be used to purchase jackpot tickets, gain special access to private rooms, and anything else that doesn’t involve gambling.Unikrn will also create UnikoinSilver to take over the role that Unikoin previously held.
According to Unikrn’s CEO, Rahul Sood, The key difference between UnikoinGold and other “gambling tokens” is that most others simply serve as little more than a “shortsighted” means of placing a bet. He added that “Many companies are doing ICOs for all the wrong reasons. They believe that by using crypto they can skirt gambling regulation, which is wrong. We think it will eventually catch up to them, and anybody holding their tokens.”
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Coming up on the Economic Calendar …
We are expecting a quiet market during today’s Asian and London sessions. The anticipation on today’s FOMC Meeting Minutes at 6 PM GMT has been building up for a few days, which dragged the USD lower across the board.
More on the economic calendar today includes MBA Mortgage Applications at 11 AM GMT, and New Zealand’s House Sales (SEP) during the next day’s Asian session at 8 PM GMT.
Japan will also be making headlines as they release their Bank Lending data at 11:50 PM GMT.
I covered trading and investing stratgies on multiple stocks, ETFs, currency pairs and cryptocurrencies in today’s live strategy development class. Join here to watch the replay!