30 Jan 2014
NZD/JPY drops further to 8-week lows after RBNZ
FXstreet.com (Córdoba) - After a short-lived recovery the NZD/JPY resumed the downside and dropped to 8-week lows after the decision of the RBNZ. Price bottomed recently at 83.44, the lowest price since December 6, but rebounded and rose back to the 84.00 zone.
NZD/JPY strong reversal
Earlier on Wednesday the pair rose to 85.70 but as it did on Tuesday, failed to hold above 85.00 and started to retreat as the Yen strengthened across the board. During the American session bottomed at 84.20 but extended losses after the RBNZ.
At the moment of writing the NZD/JPY is hovering around 84.00, 185 pips below Wednesday’s highs.
The NZD/JPY is headed toward the worst monthly performance since August 2013. On a weekly basis is about to post the fourth weekly decline in a row, an event that last happened in May 2013.
NZD/JPY strong reversal
Earlier on Wednesday the pair rose to 85.70 but as it did on Tuesday, failed to hold above 85.00 and started to retreat as the Yen strengthened across the board. During the American session bottomed at 84.20 but extended losses after the RBNZ.
At the moment of writing the NZD/JPY is hovering around 84.00, 185 pips below Wednesday’s highs.
The NZD/JPY is headed toward the worst monthly performance since August 2013. On a weekly basis is about to post the fourth weekly decline in a row, an event that last happened in May 2013.