• NZD/JPY gained strengthen on Monday as Japanese yen continued to weakened following dovish statement from Bank of Japan .
• The Bank of Japan held interest rates steady on Friday, with its governor indicating no urgency to raise borrowing costs amid global economic uncertainties.
. The dovish comments has weakened the yen, increasing uncertainty about whether the BOJ will raise interest rates this year, contrary to many market predictions.
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• At (GMT 05:56) Kiwi dollar was trading at up 0.34 % at 90. 04 against the U.S. dollar.
• The technical outlook remains bullish and points to eventual bigger gains, Fourteen-day momentum is positive, reinforcing the scope for a bigger gains .
• Immediate resistance is located at 90.45(23.6%fib), any close above will push the pair towards 91.17 (Aug 29th high).
• Support is seen at 88.95 (38.2%fib) and break below could take the pair towards 88.29(Aug 19th low).
Recommendation: Good to buy around 90.00 with stop loss of 89.40 and target price of 90.80
