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Ticking Away From Cycle Highs

NZDJPY

NZD/JPY has ticked away from cycle highs (¥91.38) in recent dealing as risk sentiment waned on Monday.

  • In early trade on Tuesday we sit at ¥90.70/75.
  • Bulls target a break of cycle highs which opens April 2015 high (¥92.41) and 2014 high (¥94.05).
  • On the downside bears look to break the 20-Day EMA (¥90.19), this opens the 200-Day EMA at ¥87.14.
  • Tokyo CPI was on the wire a short time ago, the print was softer than expectations however there has not been much reaction in FX markets as of yet.

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