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Supported At 20-Day EMA

NZDJPY

NZD/JPY fell ~0.6% yesterday as lower US Tsy Yields saw the Yen outperform in the G-10 space.

  • The pair sits a touch above the 20-Day EMA (¥90.14), which provided support yesterday, in early trade on Wednesday.
  • Bears immediate focus on a break of the 20-Day EMA which opens ¥89.15, 50% retracement of Oct-Dec bull leg, and ¥88 handle.
  • Despite yesterday's fall we remain in an uptrend. Bulls target a break of cycle highs which opens April 2015 high (¥92.41) and 2014 high (¥94.05).

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