29 Jan 2015
NZD/JPY bounces-off from 3-month lows
FXStreet (Mumbai) - The New Zealand dollar rebounded sharply versus the Japanese from fresh three month lows as traders absorbed RBNZ policy statement and a set of macro data from the both the economies.
NZD/JPY back above 86 handle
Currently, the NZD/JPY pair traded at 86.48 up 0.54% on the day, moving away from three month lows posted earlier in the session at 85.92 levels. The cross in NZD/JPY fell to fresh lows after RBNZ dropped its previously maintained hiking bias which knocked the Kiwi off to fresh four year lows. However, NZD/JPY cross regained strength on a weakening yen versus the greenback as markets continue to weigh the impacts of the latest FOMC statement.
NZD/JPY Levels to consider
To the upside, the next resistance is located at 86.75 levels and above which it could extend gains to at 87.27 levels. To the downside immediate support might be located at 86.10 levels below that at 85.92 levels.
NZD/JPY back above 86 handle
Currently, the NZD/JPY pair traded at 86.48 up 0.54% on the day, moving away from three month lows posted earlier in the session at 85.92 levels. The cross in NZD/JPY fell to fresh lows after RBNZ dropped its previously maintained hiking bias which knocked the Kiwi off to fresh four year lows. However, NZD/JPY cross regained strength on a weakening yen versus the greenback as markets continue to weigh the impacts of the latest FOMC statement.
NZD/JPY Levels to consider
To the upside, the next resistance is located at 86.75 levels and above which it could extend gains to at 87.27 levels. To the downside immediate support might be located at 86.10 levels below that at 85.92 levels.