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2 Oct 2013
NZD/JPY fall stopped at 80.80 session lows
FXstreet.com (Chicago) - NZD/JPY was held up by bulls at the 80.80 zone before extending free-fall from 81.00/05 area.
On hold for speech
With no more official data coming out today besides the RBNZ McDermott speech later entitled “Shifting gear: why have neutral interest rates fallen?”, market participants continue favoring a stronger yen overall.
NZD/JPY Technical Levels
The kiwi keeps getting beat up across the board despite attempt to consolidate above the 81 zone. Printing session lows at 80.80 the pair navigates between supports aligned at 80.53 (September 11th lows), 80.12 (September 10th highs) ahead of 79.75 (September 10th lows) and the resistances set at 80.92 (September 25th lows), 81.32 (September 16th highs) followed by 81.88 (October 1st highs). All trends, long- with primary, medium with secondary and short with hourly, face the ground and the pair remains below the EMA20.
On hold for speech
With no more official data coming out today besides the RBNZ McDermott speech later entitled “Shifting gear: why have neutral interest rates fallen?”, market participants continue favoring a stronger yen overall.
NZD/JPY Technical Levels
The kiwi keeps getting beat up across the board despite attempt to consolidate above the 81 zone. Printing session lows at 80.80 the pair navigates between supports aligned at 80.53 (September 11th lows), 80.12 (September 10th highs) ahead of 79.75 (September 10th lows) and the resistances set at 80.92 (September 25th lows), 81.32 (September 16th highs) followed by 81.88 (October 1st highs). All trends, long- with primary, medium with secondary and short with hourly, face the ground and the pair remains below the EMA20.