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6 Aug 2014
NZD/JPY extending the waves lower
FXStreet (Guatemala) - NZD/JPY is trading at 86.63, down -0.27% on the day, having posted a daily high at 86.96 and low at 86.51.
NZD/JPY is on a further leg down since the move that started on the daily calendar in July from 25 pips sub of the 90 handle. The pair is currently testing the bulls commitment here as we put pressure through the top end of the 86 handle in a generally negative environment for the bird currently. The move came in the weakness of the NZD due to a) the lower prices in the recent global daily auction and then b) with the Q2 unemployment report. That number came in at rate 5.6% vs 5.8% that was expected.
NZD/JPY technical are slightly bearish
The FXStreet OB/OS Index is reflecting oversold hourly conditions though, although the FXStreet Trend Index is still slightly bearish. Daily RSI sits at 41.68, in neutral territory. Over the past 20 days, the exponential average closing price is 87.85, and trending lower.
NZD/JPY is on a further leg down since the move that started on the daily calendar in July from 25 pips sub of the 90 handle. The pair is currently testing the bulls commitment here as we put pressure through the top end of the 86 handle in a generally negative environment for the bird currently. The move came in the weakness of the NZD due to a) the lower prices in the recent global daily auction and then b) with the Q2 unemployment report. That number came in at rate 5.6% vs 5.8% that was expected.
NZD/JPY technical are slightly bearish
The FXStreet OB/OS Index is reflecting oversold hourly conditions though, although the FXStreet Trend Index is still slightly bearish. Daily RSI sits at 41.68, in neutral territory. Over the past 20 days, the exponential average closing price is 87.85, and trending lower.