Forex Flash: NZD/JPY looks to net gains after JPY selling – RBS

FXstreet.com (Barcelona) - According to Technical Markets Strategist William Moore at RBS, "The JPY remains the market's favorite sell and the one of the biggest benefactors has been the NZD. The breaking of the 69.70 level late in 2012 seemed to be the catalyst for this cross to move aggressively higher and the market now finds itself on the potentially strong resistance level at 75.70. Above there sits 79.41, which is the 138.2% projection from the 2009 rally, though also the level where the credit crunch aggressive sell-off began in 2008."