30 Aug 2013
NZD/JPY stalls at 76.20 zone despite plethora of data released
FXstreet.com (Chicago) - NZD/JPY traded sideways throughout the day after retracing from 76.44 highs and bouncing off from 76.11 lows. The pair cracked down on Japanese data indicating stronger results but was hold up by the bulls that pushed up bearish pressure.
Plethora of facts in Japan, inflationary pressures picking up
Japan just released a plethora of data including unemployment rate down 0.1% compared to estimates and previous results at 3.9%. The National Consumer Price Index was 0.7% vs. past 0.2%. Industrial production was 3.2% failing to meet expectations at 3.9% but stronger than -3.1% from the past month. Yearly industrial production growth is 1.6% compared to a previous -4.6%. In New Zealand, building permits were -0.8% vs. past -4.3% as published by the Statistics NZ.
NZD/JPY Technical Levels
Technically speaking, the pair trades at 76.29 and oscillates between supports at 76.00 (session lows), 75.83 (August 27th highs) followed by 75.39 (August 28th lows) and resistances at 76.42 (session highs), 76.87 (August 24th lows) ahead of 77.17 (August 23rd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.
Plethora of facts in Japan, inflationary pressures picking up
Japan just released a plethora of data including unemployment rate down 0.1% compared to estimates and previous results at 3.9%. The National Consumer Price Index was 0.7% vs. past 0.2%. Industrial production was 3.2% failing to meet expectations at 3.9% but stronger than -3.1% from the past month. Yearly industrial production growth is 1.6% compared to a previous -4.6%. In New Zealand, building permits were -0.8% vs. past -4.3% as published by the Statistics NZ.
NZD/JPY Technical Levels
Technically speaking, the pair trades at 76.29 and oscillates between supports at 76.00 (session lows), 75.83 (August 27th highs) followed by 75.39 (August 28th lows) and resistances at 76.42 (session highs), 76.87 (August 24th lows) ahead of 77.17 (August 23rd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.