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18 Sep 2013
NZD/JPY posts fresh 3.5-month highs above 81.50
FXstreet.com (Barcelona) - The NZD/JPY foreign exchange cross rate is last quoted at 81.68 off recent session highs and fresh 3.5-month highs at 81.85 up +1.07% for the week so far.
NZD/JPY hurdles starting to show up
Less than 1 hour away from New Zealand current account data at 22:45 GMT and NZD/USD already showing signs of overboughtness with daily RSI 14 above the 70 level, the NZD/JPY cross has been recently higher mostly on the back of Kiwi strength, adding near to +8% gains just in last 2 weeks. Mentioned recent multi month high is right at the 38.2% Fibo retrace of daily leg down from early April highs above 86 to mid June lows below 74.
NZD/JPY key technical levels
Immediate support to the downside for NZD/JPY lies at Monday's highs 81.38, followed by Sept 10 highs at 81.10, and Monday's lows at 80.80. To the upside, closest resistance shows at recent mentioned fresh 3.5-month high 81.68, followed by May 02 lows at 82.22, and April 23/May 20 lows at 82.33.
NZD/JPY hurdles starting to show up
Less than 1 hour away from New Zealand current account data at 22:45 GMT and NZD/USD already showing signs of overboughtness with daily RSI 14 above the 70 level, the NZD/JPY cross has been recently higher mostly on the back of Kiwi strength, adding near to +8% gains just in last 2 weeks. Mentioned recent multi month high is right at the 38.2% Fibo retrace of daily leg down from early April highs above 86 to mid June lows below 74.
NZD/JPY key technical levels
Immediate support to the downside for NZD/JPY lies at Monday's highs 81.38, followed by Sept 10 highs at 81.10, and Monday's lows at 80.80. To the upside, closest resistance shows at recent mentioned fresh 3.5-month high 81.68, followed by May 02 lows at 82.22, and April 23/May 20 lows at 82.33.