5 Feb 2014
NZD/JPY approaches 84.00 after NZ jobs data
FXStreet (Córdoba) - The NZD/JPY rallied further and hit a fresh 3-day high at 83.91, following the release of employment data from New Zealand, that surpassed expectations.
During Tuesday, amid a weak Yen, the pair rose sharply rising from three months lows at 81.40 and climbed 200 pips.
NZD/JPY eyes 84.00
Short-term momentum remains bullish after the data, with the pair trading barely below 84.00; above immediate resistance lies at 84.10 (January 30 high), 84.70 and 85.70 (January 28, 29 highs). To the downside support levels could be located at 83.10, 82.40 (January 31 low) and 81.70.
On Tuesday the NZD/JPY posted the first daily gain after falling in the previous four trading days. Despite recent rally the NZD/JPY is still trading 130 pips below the price it had a week ago.
During Tuesday, amid a weak Yen, the pair rose sharply rising from three months lows at 81.40 and climbed 200 pips.
NZD/JPY eyes 84.00
Short-term momentum remains bullish after the data, with the pair trading barely below 84.00; above immediate resistance lies at 84.10 (January 30 high), 84.70 and 85.70 (January 28, 29 highs). To the downside support levels could be located at 83.10, 82.40 (January 31 low) and 81.70.
On Tuesday the NZD/JPY posted the first daily gain after falling in the previous four trading days. Despite recent rally the NZD/JPY is still trading 130 pips below the price it had a week ago.