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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.
NZD
NZD/JPY has firmed ~4.5% in May, the pair has printed its highest level since the December BoJ meeting when the bank widened the Yield Curve Control Band before marginally paring gains.
- Firmer commodity prices, the Bloomberg Commodity Index is up ~2% off its early May lows, have aided the rally in the pair.
- The technical picture looks increasingly bullish, the 20-Day EMA has crossed over the 200-Day EMA.
- Bulls now look to target ¥86.34 the 76.4% retracement of the Dec-Mar bear leg. This opens up ¥87.20 the high from 20 Dec.
- Bears first look break ¥85 handle from here they can target the 20-Day EMA (¥83.88).
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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