15 Jan 2014
NZD/JPY soars to fresh multi-year highs above 87.00
FXstreet.com (Córdoba) - The NZD/JPY posted the strongest daily gains so far for the 2014 after climbing from 86.23 to 87.23. During the American session peaked at 87.36, hitting the highest price since February 2008.
The Kiwi outperformed commodity currencies on Tuesday and while the Yen was among the weakest across the board.
Technical outlook for the NZD/JPY
The pair continues to move with a bullish bias in the short-term and also on a wider view. With Tuesday's movements the Kiwi reached a fresh multi-year high versus the Yen for the third week in a row, reaffirming the trend.
To the downside support lies at 86.80, 86.50 and 85.85 (weekly low and rising trendline). While to the upside resistance might lie at 87.37 (daily high) and 87.80.
The Kiwi outperformed commodity currencies on Tuesday and while the Yen was among the weakest across the board.
Technical outlook for the NZD/JPY
The pair continues to move with a bullish bias in the short-term and also on a wider view. With Tuesday's movements the Kiwi reached a fresh multi-year high versus the Yen for the third week in a row, reaffirming the trend.
To the downside support lies at 86.80, 86.50 and 85.85 (weekly low and rising trendline). While to the upside resistance might lie at 87.37 (daily high) and 87.80.