15 Oct 2013
NZD/JPY struggles to protect 82.40
FXstreet.com (Chicago) - NZD/JPY reached 82.62 session highs to retrace around the 82.40 zone ahead of Japanese data releases and amid expectations of Washington’s dramatic debt ceiling developments.
Ahead of Japanese data, the pair advances on Nikkei’s strengthening and yen’s fuel loss that fluctuates on hourly rates drifting on US developments. Market participants are pretty much expectant of what happens in Washington with little data left after industrial production results in Japan are out around 4:30 GMT.
NZD/JPY Technical Levels
Technically speaking, the pair trades around 3-week highs on yen’s weakening after rumors of a potential US agreement to end shutdown have escalated this past week. Extending the upward trendline since last October 10th after a week of sideways price action, the pair maintains performance but remains limited by 82.64 peaks. Offered at 82.42, the pair oscillates between supports aligned at 82.23 (October 11th highs), 81.87 (October 1st highs) ahead of 81.45 (October 10th highs) and the resistances set at 82.62 (session highs), 83 (September 20th highs) followed by 83.71 (September 19th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Ahead of Japanese data, the pair advances on Nikkei’s strengthening and yen’s fuel loss that fluctuates on hourly rates drifting on US developments. Market participants are pretty much expectant of what happens in Washington with little data left after industrial production results in Japan are out around 4:30 GMT.
NZD/JPY Technical Levels
Technically speaking, the pair trades around 3-week highs on yen’s weakening after rumors of a potential US agreement to end shutdown have escalated this past week. Extending the upward trendline since last October 10th after a week of sideways price action, the pair maintains performance but remains limited by 82.64 peaks. Offered at 82.42, the pair oscillates between supports aligned at 82.23 (October 11th highs), 81.87 (October 1st highs) ahead of 81.45 (October 10th highs) and the resistances set at 82.62 (session highs), 83 (September 20th highs) followed by 83.71 (September 19th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.