27 Jan 2015
NZD/JPY trades below 5-DMA
FXStreet (Mumbai) - The New Zealand edged lower against the Japanese yen in the mid-European session, extending its downtrend after a short-lived recovery seen yesterday.
Currently, the NZD/JPY pair traded at 87.78 levels down -0.22% on the day, having previously posted day’s high at 88.26 and day’s low at 87.57 levels. The cross in NZD/JPY edged lower mainly due to the strengthening Japanese currency. The pair is likely to trade lower as long as the yen holds gains versus the USD.
As of writing, NZD/USD trades at 0.7441 levels, up 0.20% on the day , while yen gains 0.36% on the day against the US dollar to trade at 118.04 levels.
NZD/JPY Levels to consider
To the upside, the next resistance is located at 88.26 (Today’s high) levels and above which it could extend gains to at 89 levels. To the downside immediate support might be located at 87.50 levels below that at 87.07 levels.
Currently, the NZD/JPY pair traded at 87.78 levels down -0.22% on the day, having previously posted day’s high at 88.26 and day’s low at 87.57 levels. The cross in NZD/JPY edged lower mainly due to the strengthening Japanese currency. The pair is likely to trade lower as long as the yen holds gains versus the USD.
As of writing, NZD/USD trades at 0.7441 levels, up 0.20% on the day , while yen gains 0.36% on the day against the US dollar to trade at 118.04 levels.
NZD/JPY Levels to consider
To the upside, the next resistance is located at 88.26 (Today’s high) levels and above which it could extend gains to at 89 levels. To the downside immediate support might be located at 87.50 levels below that at 87.07 levels.