Filed Under:
Forex pairs in this Article » NZD/JPY (Barcelona) - NZDJPY is currently so far flat for the week last at 76.10, unchanged from previous weekly close Friday, off recent session highs at 76.25, and near session lows at 75.99. The cross reached a fresh 4-year high on Friday at 76.37, highest level since Sept 2008, adding +6% gains since year 2013 started.

The cross is right underneath the bid line worked as support from all the period from April 2007 till July 2008, also 61.8% Fibo retrace of big daily leg down from 2007 highs at 97.80 to 2009 lows at at 44.20. Since general elections were called in Japan by mid Nov and thus expectations for further easing in BoJ monetary policies started, the cross has jumped almost a +15% ever since.

Immediate resistance to the upside for NZDJPY show at Friday's fresh 4-year highs 76.37, followed by March 2008 lows at 76.72, and March 2007 lows/mentioned 61.8% level at 77.39. To the downside, nearest term support lies at Jan 17 highs 75.84, followed by Jan 15highs at 75.56, and Jan 11 highs at 75.41.
comments powered by Disqus