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Lowest Level Since Mid-September

NZDJPY

NZD/JPY sits a touch below the ¥87 handle as recent weakness in equities has seen the pair fall ~3.5% since testing the ¥90 handle in mid October.

  • In early dealing on Thursday we sit at the lowest level since 13 Sep.
  • On the downside bears immediate focus is on the 200-Day EMA (¥86.30). A break through here opens the low from 28 July (¥84.95) and ¥83.97, 61.8% retracement of the Mar-Jul bull leg.
  • Bulls look to recover above the 20-Day EMA (¥87.95), which opens the high from 13 Oct (¥88.92) and the ¥90 handle.

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