8 Dec 2014
NZD/JPY falls sharply, trades under 5-day SMA
FXStreet (Mumbai) - The Kiwi dropped sharply against the Japanese yen today after negative Chinese trade data fueled fresh round of selling in the pair.
The NZD/JPY pair trades at 92.46, down -1.32% from previous session’s close of 93.34, at time of writing. The New Zealand dollar plunged largely on US dollar strength, which knocked down the NZD/USD pair to 2-1/5 year low.
Also, the weakness in the kiwi may be seen as the yen recovers against the US dollar from its day’s low of 121.86 to trade at 121.08 levels now.
NZD/JPY Technical Levels
The pair has an immediate resistance at 92.71 (5-day SMA) levels, above which gains could be extended to 92.90 (10-day SMA) levels. On the flip side, support is seen at 92.33 (Nov 27 Low) levels, below which it could extend losses to 92.05 (Nov 19 Low) levels.
The NZD/JPY pair trades at 92.46, down -1.32% from previous session’s close of 93.34, at time of writing. The New Zealand dollar plunged largely on US dollar strength, which knocked down the NZD/USD pair to 2-1/5 year low.
Also, the weakness in the kiwi may be seen as the yen recovers against the US dollar from its day’s low of 121.86 to trade at 121.08 levels now.
NZD/JPY Technical Levels
The pair has an immediate resistance at 92.71 (5-day SMA) levels, above which gains could be extended to 92.90 (10-day SMA) levels. On the flip side, support is seen at 92.33 (Nov 27 Low) levels, below which it could extend losses to 92.05 (Nov 19 Low) levels.