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10 Dec 2014
NZD/JPY up to test 92 handle on 200 pip rally
FXStreet (Guatemala) - NZD/JPY is trading at 92.07, up 0.23% on the day, having posted a daily high at 92.47 and low at 90.67.
NZD/JPY has ben taken back on the basis of a hawkish RBNZ. The pair has broken through the descending resistance of the week and is up to test territory on the 92 handle. The move was rapid and large and has jumped into highly overbought territory.
At the same time, NZD/USD has been up 125 to test the 0.78 handle when the RBNZ left rates at 3.50% but in their statement explained that the OCR is expected to be increased. The report is hawkish although the jawboning and language around the strength of the bird stays as, “…Remains unjustified and unsustainable” at these current levels.
NZD/JPY has ben taken back on the basis of a hawkish RBNZ. The pair has broken through the descending resistance of the week and is up to test territory on the 92 handle. The move was rapid and large and has jumped into highly overbought territory.
At the same time, NZD/USD has been up 125 to test the 0.78 handle when the RBNZ left rates at 3.50% but in their statement explained that the OCR is expected to be increased. The report is hawkish although the jawboning and language around the strength of the bird stays as, “…Remains unjustified and unsustainable” at these current levels.