7 Feb 2014
NZD/JPY attempting the downside
FXStreet (Guatemala) - NZD/JPY has been held up at 84.50 after a run from sub 81.50 this week and now tests the downside’s first key support area on the way to the mid 83’s.
While there is little to chew on for the pairs domicile’s, across the way from the countries, the RBA’s quarterly statement on monetary policy saw revisions to the 2014 GDP forecast. Meanwhile, Strategists at TD Securities noted that we might still get some volatility around the NFP data…but the overall message from this week’s data is that the Fed will keep its toe on the taper brake for now. The cross has RSI (14) reading well below 20 and the EMA’s on the short terms are coming with a bearish bias.
While there is little to chew on for the pairs domicile’s, across the way from the countries, the RBA’s quarterly statement on monetary policy saw revisions to the 2014 GDP forecast. Meanwhile, Strategists at TD Securities noted that we might still get some volatility around the NFP data…but the overall message from this week’s data is that the Fed will keep its toe on the taper brake for now. The cross has RSI (14) reading well below 20 and the EMA’s on the short terms are coming with a bearish bias.