FxWirePro: NZD/JPY extends recovery from multi-month lows, bias higher
NZD/JPY extending recovery from multi-month lows at 73.65, trades above 5&10 day MAs, close above could see further upside. Kiwi was a major beneficiary of improving risk appetite and oil price rebound and movements will…
NZD/JPY extending recovery from multi-month lows at 73.65, trades above 5&10 day MAs, close above could see further upside.
Kiwi was a major beneficiary of improving risk appetite and oil price rebound and movements will be dominated by further oil price action and the markets sentiment on the stocks.
Positive sentiment amid an improved risk environment, with commodities and equities rising see demand for JPY waning.
Daily Stochs have crossed over from oversold levels and so has RSI, bias is definitely higher.
74.45 (double bottom - June 2013, Sept 2015) strong support for NZD/JPY, close below could see more weakness, declines till 69.30 then look likely.
