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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NZDJPY
NZD/JPY was pressured in yesterdays dealing falling ~0.6%, the pair breached the ¥88 and fell below the 20-Day EMA (¥87.88). Weaker-than-forecast Chinese inflation data and lower US Tsy Yields weighed on NZD/JPY yesterday.
- The pair sits at ¥87.60/70 and now sits ~2% below last week's cycle highs.
- Bears now target the low from 20 June, ¥86.85, a break through here open ¥86.00 round number support.
- On the upside bulls immediate focus is on the 20-Day EMA, from here they can target high from July 5 (¥89.70).
- The local dockets in New Zealand and Japan are both thin today with just June Money Stock from Japan due shortly. Wider swings in risk sentiment will be the main driver in the pair.
Fig 1: NZD/JPY Daily Spot, EMAs
Source: MNI/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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