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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 is having troubles with extending gains, after rejecting resistance from Dec 2/YtD high of Y74.04. The rate charted a bearish engulfing line as it printed that level, but the subsequent pullback was limited by the 38.2% retracement of the Nov 19 - Dec 2 rally at Y73.08. NZD/JPY staged an attack at recent highs towards the end of last week, but failed to take out the aforementioned Y74.04 level and charted a bearish Harami candlestick pattern, grinding lower thereafter. In addition, the RSI has struggled to return above the 70 level after crossing below there just after the rate hit its YtD highs. NZD/JPY last sits at Y73.64, marginally lower on the day.
- Bears need a fall through the Y73.08 38.2% Fibo level to regain poise and take aim at the 23.6% retracement of the May 18 - Dec 2 rally/Nov 19 low/Nov 13 low at Y71.54/52/48. On the flip side, a firm push through Dec 11/2 highs of Y74.01/04 would turn focus to Apr 30, 2019 high of Y74.61.
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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