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22 Oct 2013
NZD/JPY consolidating recent gains; upside to 83.67 may be next say technicians
FXstreet.com (Barcelona) - The NZD/JPY is drifting modestly higher thus far in Tuesday’s session – perhaps feeding on the Yen-bearishness that was created by weak Japanese Trade Balance data from early Monday.
NZD/JPY traders have to endure a fairly quiet session until the US jobs report
With no data due out from Japan or New Zealand Tuesday, the only factor that could push the NZD/JPY from a drift to a more serious move will be the global risk mood. That mood should be greatly influenced by the release of the US monthly jobs report for September at 12:30 GMT.
Technical outlook for NZD/JPY
Technicians say support for NZD/JPY comes in at Thursday’s low at 82.66 – which is followed by the 10/15 low at 82.05. Resistance for NZD/JPY comes in at the 9/19 close at 83.32 with the intraday high from that same day at 83.66.
NZD/JPY traders have to endure a fairly quiet session until the US jobs report
With no data due out from Japan or New Zealand Tuesday, the only factor that could push the NZD/JPY from a drift to a more serious move will be the global risk mood. That mood should be greatly influenced by the release of the US monthly jobs report for September at 12:30 GMT.
Technical outlook for NZD/JPY
Technicians say support for NZD/JPY comes in at Thursday’s low at 82.66 – which is followed by the 10/15 low at 82.05. Resistance for NZD/JPY comes in at the 9/19 close at 83.32 with the intraday high from that same day at 83.66.