21 Aug 2013
NZD/JPY plummets on Fukushima news
FXstreet.com (Barcelona) - The NZD/JPY foreign exchange cross rate is last quoted at 77.04 bids, off recent fresh 9-day lows at 76.89 printed on the back of combined Kiwi weakness and Yen strength, following news on a severe leakage of highly radioactive water from Fukushima's nuclear plant tanks.
NZD/JPY finds support at a key Fibo level
The NZD/JPY cross has found momentary support at the 77 round figure thus far as previously since early July. The level has worked as support several times in the past along this year, and it represents the 24% Fibo retrace of May/June down leg at 78.86. The cross is down already a -2.45% for the week so far, with Nikkei index falling -0.88% for the day off previous session highs in the positive above +0.5% gains.
NZD/JPY key technical levels
Immediate support to the downside for NZD/JPY lies at recent session/weekly lows 76.89, followed by August 08 lows at 76.54, and August 07 lows at 76.34. To the upside, closest resistance shows at yesterday's lows 77.20, followed by recent session highs at 77.66, and Friday's lows at 78.32.
NZD/JPY finds support at a key Fibo level
The NZD/JPY cross has found momentary support at the 77 round figure thus far as previously since early July. The level has worked as support several times in the past along this year, and it represents the 24% Fibo retrace of May/June down leg at 78.86. The cross is down already a -2.45% for the week so far, with Nikkei index falling -0.88% for the day off previous session highs in the positive above +0.5% gains.
NZD/JPY key technical levels
Immediate support to the downside for NZD/JPY lies at recent session/weekly lows 76.89, followed by August 08 lows at 76.54, and August 07 lows at 76.34. To the upside, closest resistance shows at yesterday's lows 77.20, followed by recent session highs at 77.66, and Friday's lows at 78.32.