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15 Aug 2013
NZD/JPY sold off above 79.00
FXstreet.com (Barcelona) - The NZD/JPY foreign exchange cross rate is last quoted at 78.86 bids, selling off from recent session and 3-week highs at 79.13, triggered on comments from Japan FinMin Aso denying PM Abe is considering a corporate tax break.
NZD/JPY higher on Yen weakness and Kiwi strength combination
The NZD/JPY cross is last up +1.95% for the week so far, currently holding above early August highs, with Nikkei index at lunch break down more than -1% following Aso's comments. Positive data coming out of New Zealand recently, like today's best PMI figures in many years, have also helped the Kiwi cross to regain past 2 weeks levels.
NZD/JPY key technical levels
Immediate support to the downside for NZD/JPY lies at current levels as mentioned August 02 highs 78.80, followed by recent session lows at 78.58, and Tuesday's lows at 78.52. To the upside, closest resistance shows at mentioned fresh 3-week session highs 79.13, followed by July 24 lows at 79.32, and July 09 highs at 79.76.
NZD/JPY higher on Yen weakness and Kiwi strength combination
The NZD/JPY cross is last up +1.95% for the week so far, currently holding above early August highs, with Nikkei index at lunch break down more than -1% following Aso's comments. Positive data coming out of New Zealand recently, like today's best PMI figures in many years, have also helped the Kiwi cross to regain past 2 weeks levels.
NZD/JPY key technical levels
Immediate support to the downside for NZD/JPY lies at current levels as mentioned August 02 highs 78.80, followed by recent session lows at 78.58, and Tuesday's lows at 78.52. To the upside, closest resistance shows at mentioned fresh 3-week session highs 79.13, followed by July 24 lows at 79.32, and July 09 highs at 79.76.