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11 Dec 2014
NZD/JPY climbs, eyes 93 levels
FXStreet (MUmbai) - The New Zealand dollar climbed higher against the Japanese yen in the European session as markets overlooked Reserve Bank of New Zealand (RBNZ) Wheeler’s comments on the country’s exchange rate.
Currently, the NZD/JPY pair trades at 92.75 levels, up 0.66%, compared to yesterday’s close of 90.61. Traders ignored RBNZ Governor Wheeler repeated comments that the country’s currency remains unsustainably high and that a significant depreciation in the currency is expected. The New Zealand dollar remains supported on RBNZ’s hints about gradual rate increases.
Moreover, Japanese yen remains pressured against the Kiwi ahead of Japanese parliamentary snap elections this weekend.
NZD/JPY Technical Levels
To the upside, the next resistance is located at 93 (Nov 27 High), above which it could extend gains to 93.25 (Nov 18 High) levels. To the downside, immediate support might be located at 92.41 (Nov 20 Low) and below that at 92.21 (Nov 18 Low) levels.
Currently, the NZD/JPY pair trades at 92.75 levels, up 0.66%, compared to yesterday’s close of 90.61. Traders ignored RBNZ Governor Wheeler repeated comments that the country’s currency remains unsustainably high and that a significant depreciation in the currency is expected. The New Zealand dollar remains supported on RBNZ’s hints about gradual rate increases.
Moreover, Japanese yen remains pressured against the Kiwi ahead of Japanese parliamentary snap elections this weekend.
NZD/JPY Technical Levels
To the upside, the next resistance is located at 93 (Nov 27 High), above which it could extend gains to 93.25 (Nov 18 High) levels. To the downside, immediate support might be located at 92.41 (Nov 20 Low) and below that at 92.21 (Nov 18 Low) levels.