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BOJ Speculation Weighs

NZDJPY

NZD/JPY fell ~1.6% on Thursday as speculation that the December BOJ meeting is now "live" for a policy change supported the Yen through Thursday's trade. The pair was down as much as ~3%, printing a low of ¥87.71 before paring losses.

  • In early trade on Friday we sit at ¥88.70/75.
  • Bears now look to break the low from 7 Dec (¥87.71) to target the 200-Day EMA (¥87.21). A break through here opens the ¥86 handle the low from 28 Jul (¥84.95).
  • On the upside bulls look to break the 20-Day EMA (¥89.92), this opens cycle highs (¥91.51), April 2015 high (¥92.41) and 2014 high (¥94.05).

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