19 Jun 2014
NZD/JPY: NZ GDP allows small correction in firm uptrend
FXStreet (Bali) - NZD/JPY is trading at 88.86, down -0.14% since the NY close, having posted a daily high at 89.05 and low at 88.84, first boosted on an earlier dovish FOMC only to retreat some of its gains following solid NZ GDP numbers.
How strong has the move been?
NZD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is bullish. RSI is in neutral territory at 53.33, down from it’s last hourly close at 69.45, while ADX is ranging above 30 at 21.88, down from 42.11 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 65.89. The 200 SMA is currently at 88.51, up from 87.92 at the last period close, and climbing on the hourly NZD/JPY chart. Moving in an upward trend, the exponential average closing price is 87.54.
NZD/JPY technicals
The multi-year uptrend in the Kiwi vs Yen seems to have been resumed, with the pair having broken a key resistance at 88.50 on Wednesday, to now expose 89.20 (sequence of peaks throughout 2014) ahead of 89.85 and 90.00. On the downside, first area of support comes at 89.70 followed by 89.50, with dip buyers expected to be well camped around these levels.
How strong has the move been?
NZD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is bullish. RSI is in neutral territory at 53.33, down from it’s last hourly close at 69.45, while ADX is ranging above 30 at 21.88, down from 42.11 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 65.89. The 200 SMA is currently at 88.51, up from 87.92 at the last period close, and climbing on the hourly NZD/JPY chart. Moving in an upward trend, the exponential average closing price is 87.54.
NZD/JPY technicals
The multi-year uptrend in the Kiwi vs Yen seems to have been resumed, with the pair having broken a key resistance at 88.50 on Wednesday, to now expose 89.20 (sequence of peaks throughout 2014) ahead of 89.85 and 90.00. On the downside, first area of support comes at 89.70 followed by 89.50, with dip buyers expected to be well camped around these levels.