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Fresh Year To Date High

NZDJPY

NZD/JPY rose ~0.4% on Thursday as rising US Treasury Yields weighed on the JPY. The kiwi relatively outperformed as US Equities were firmer and the impact of yesterday's NZ budget lingered.

  • The technical picture looks increasingly bullish, the 20-Day EMA has provided support in recent dealing, and a golden cross was observed as the 50-Day EMA crossed the 200-Day EMA.
  • Bulls have broken ¥86.34 the 76.4% retracement of the Dec-Mar bear leg, they now look to target ¥87.20 the high from 20 Dec. A break through here opens ¥88.16 the high from 13 Dec.
  • Bears first look to break below the ¥85 handle from here they can target the 200-Day EMA (¥83.78).
  • Japan's National CPI crosses at the bottom of the hour, a headline print of 3.5% Y/Y is expected ticking higher from the prior 3.2%.
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