NZD/JPY Price Analysis – by fx_ross NZDJPY Technical Analysis
crease by 50 or 75bps at this meeting, concluding that it is appropriate to continue hiking at the current pace.
The board decided not to hike by 75bps, so while there was scope for the upside to 0.5800, the price may struggle to gain traction at this stage of the runnings as it crumbles away, especially on a resurgence in the greenback that is trying to base at the lows of the week so far:The price could be expected on NZD/JPY to crash into support near 82.30 and in doing so, it will be leaving last week's highs for dust and put a significant risk of a move lower for the rest of the week.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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