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20-Day EMA Caps Recovery

NZDJPY

NZD/JPY has seen the recovery off Monday's low capped at the 20-Day EMA (¥87.23) in recent dealing. The pair remains well within ¥86/89 range which has persisted since mid June.

  • In early dealing on Thursday we sit a touch above the ¥87 handle, a touch firmer than opening levels.
  • Bulls immediate focus is on the 20-Day EMA, a break through here opens high from Aug 2 (¥88.22) and YTD highs (¥89.70).
  • On the downside bears first look to break the low from Aug 7 (¥86.19), this opens the 200-Day EMA (¥85.29) and the ¥84 handle.
  • The only data of note in today's Asian session is Jul PPI from Japan, a rise of 0.2% M/M is expected. The prior read was -0.2% M/M.

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