20 Feb 2015
NZD/JPY trades above 5-DMA
FXStreet (Mumbai) - The NZD/JPY pair bounced-off from the 5-DMA located at 89.40 after the disappointing Japanese PMI manufacturing data hit the wires.
NZD/JPY: gains capped at hourly 50-MA
The gains in the pair are being capped at the hourly 50-MA located at 59.5840 levels. The Kiwi remains supported after New Zealand retail-sales released earlier this week hinted at increased inflationary pressures. Kiwi also gained support from the 10% surge seen in the dairy prices at the lastest auction. However, caution ahead of the Eurogroup meeting later today is capping gains in the NZD/JPY pair.
NZD/JPY Technical Levels
The pair currently trades at 0.7532; up 0.19%. The immediate resistance is seen at 59.5840, above which gains could be extended to 59.91 levels. Meanwhile, support is seen at 89.38 (hourly 100-MA) and 59.05 levels.
NZD/JPY: gains capped at hourly 50-MA
The gains in the pair are being capped at the hourly 50-MA located at 59.5840 levels. The Kiwi remains supported after New Zealand retail-sales released earlier this week hinted at increased inflationary pressures. Kiwi also gained support from the 10% surge seen in the dairy prices at the lastest auction. However, caution ahead of the Eurogroup meeting later today is capping gains in the NZD/JPY pair.
NZD/JPY Technical Levels
The pair currently trades at 0.7532; up 0.19%. The immediate resistance is seen at 59.5840, above which gains could be extended to 59.91 levels. Meanwhile, support is seen at 89.38 (hourly 100-MA) and 59.05 levels.