13 Nov 2013
NZD/JPY riding around 81.90 plateau
FXstreet.com (Chicago) - NZD/JPY extends trendless movement that started about a week ago. Despite changes with little dynamic range between the 81.60 and 82 zone, market participants sustain even pressure.
Machinery orders in Japan: 11.4% vs. past 10.3%; domestic corporate goods price index (YoY): 2.5% vs. previous 2.2%.
NZD/JPY Technical Levels
Price action reveals a rectangular pattern formation on sideways movement extension for the past week. Offered at 81.88, the pair oscillates between the supports aligned at 81.59 (November 11th lows), 81.21 (November 7th lows) followed by 80.76 (October 31st lows) and the resistances set at 82.11 (November 11th highs), 82.47 (November 5th highs) followed by 83 (November 7th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.
Machinery orders in Japan: 11.4% vs. past 10.3%; domestic corporate goods price index (YoY): 2.5% vs. previous 2.2%.
NZD/JPY Technical Levels
Price action reveals a rectangular pattern formation on sideways movement extension for the past week. Offered at 81.88, the pair oscillates between the supports aligned at 81.59 (November 11th lows), 81.21 (November 7th lows) followed by 80.76 (October 31st lows) and the resistances set at 82.11 (November 11th highs), 82.47 (November 5th highs) followed by 83 (November 7th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.