7 Jun 2013
Kiwi/Yen suffers steep declines closing at 2 month lows
FXstreet.com (Barcelona) - The Kiwi/Yen finished the day sharply lower, closing down 169 pips at a fresh two month low of 77.77.
The FXstreet.com Trend Index remains in slightly bearish set up on the daily chart, while the ob/os index reads neutral. Furthermore, both short term moving averages and the RSI (14) are in bearish set up, a development that may help lead to further declines as we approach the end of the week.
Initial support sits at 77.30 (previous day low), while a break below here may open the doors down towards 76.30 (support on daily chart). First resistance sits at 78.51 (previous resistance, now support), followed by 79.10 (resistance on daily chart). Only a break and close above 80.12 would help term the short term trend back to neutral.
The FXstreet.com Trend Index remains in slightly bearish set up on the daily chart, while the ob/os index reads neutral. Furthermore, both short term moving averages and the RSI (14) are in bearish set up, a development that may help lead to further declines as we approach the end of the week.
Initial support sits at 77.30 (previous day low), while a break below here may open the doors down towards 76.30 (support on daily chart). First resistance sits at 78.51 (previous resistance, now support), followed by 79.10 (resistance on daily chart). Only a break and close above 80.12 would help term the short term trend back to neutral.