22 Jan 2015
NZD/JPY supported at 200-DMA
FXStreet (Mumbai) - The New Zealand dollar trades flat in a choppy European session and is seen consolidating above 200-DMA located at 88.84 levels.
Currently, the NZD/JPY pair traded flat at 89.08, bouncing-off from fresh two-month lows placed at 200-DMA. The cross in NZD/JPY trades lack lustre in absence of macro data for the pair and as traders await lingering outcome from the European Central Bank (ECB) meeting.
NZD/JPY Levels to consider
To the upside, the next resistance is located at 89.27 (Today’s high) levels and above which it could extend gains to at 90 levels. To the downside immediate support might be located at 88.84 levels below that at 88.15 levels.
Currently, the NZD/JPY pair traded flat at 89.08, bouncing-off from fresh two-month lows placed at 200-DMA. The cross in NZD/JPY trades lack lustre in absence of macro data for the pair and as traders await lingering outcome from the European Central Bank (ECB) meeting.
NZD/JPY Levels to consider
To the upside, the next resistance is located at 89.27 (Today’s high) levels and above which it could extend gains to at 90 levels. To the downside immediate support might be located at 88.84 levels below that at 88.15 levels.