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Firms Above 20-Day EMA, ¥88 Handle


NZD/JPY firmed above the20-Day EMA and the ¥88 handle on Monday. The pair rose ~1.5%, its strongest daily performance since late April. We last print at ¥88.30/40.

  • Yesterday's unscheduled bond buying by the BOJ weighed on the Yen, NZD/JPY printed its highest level since mid July and sits ~4% above its immediate post BOJ low.
  • Bulls now target a break of the high from 14 July (¥88.70) which opens the high from 5 July (¥89.70) and the ¥90 handle.
  • On the downside bears first target a break of the 20-Day EMA (¥87.60), this opens yesterday's low (¥86.63). The 200-Day EMA comes in at (¥85.19).

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