FxWirePro: NZD/JPY upside stalls at 76.42, bias higher, test of 77 levels likely
NZD/JPY upside temporarily stalls at 76.42, bias higher, scope for test of 77 levels seen. Our previous call (http://www.econotimes.com/FxWirePro-NZD-JPY-holds-minor-support-at-7443-upside-could-test-7545-179317) has hit…
Disappointing wage negotiation results and recent weakness in Japanese economic data point to a high possibility of additional BOJ easing as early as April.
BOJ Governor Kuroda said on Wednesday that exports and production are showing weakness, and repeated that the BOJ would ease without hesitation if needed.
We see scope for further upside in the pair. Weakness to resume only on breaks below 75.60. Pair could then test 73.55 levels.
