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Recovers From Fresh Weekly Low

NZDJPY

NZD/JPY has clawed back its earlier losses and last deals at Y77.41, a touch higher on the day. The rate printed a fresh weekly low earlier in the session, while sticking to a tight 23 pip range in quiet Asia-Pac trade.

  • A fall through Y76.66, which limited losses on Apr 13, would bring the 100-DMA at Y75.94 into focus. Should the rate climb above Apr 20 high of Y78.38, bulls could set their sights on Mar 18 high of Y79.14.
  • The RBNZ trimmed its weekly LSAP target to NZ$350mn from NZ$400, which came on the heels of a NZ$20mn reduction announced last week. Worth noting NZ markets will be shut on Monday.
  • Elsewhere, Japan's CPI figures fell in line with expectations.
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