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20 Aug 2013
NZD/JPY plummets below 78.50 following RBNZ Wheeler statements
FXstreet.com (Barcelona) - The NZD/JPY foreign exchange cross rate is last quoted at 78.17 bids, off recent session and weekly lows at 78.02 following RBNZ Wheeler's comments on how overvalued and unsustainable at current rates the Kiwi is.
NZD/JPY holds the selling above 78.00
The NZD/JPY cross is down for the week a -1.08% thus far, with Nikkei index also down -0.53% for the day. Most of the decline comes from the weakness part in Kiwi, while Yen is more or less unchanged. All in all, the NZD/JPY is still up +9% year to date.
NZD/JPY key technical levels
Immediate support to the downside for NZD/JPY lies at recent session/weekly lows 78.02/00, followed by August 12 highs at 77.82, and August 12 NY session lows at 77.23. To the upside, closest resistance shows at Friday's lows 78.31, followed by yesterday's lows at 78.60, and August 14 highs at 78.98.
NZD/JPY holds the selling above 78.00
The NZD/JPY cross is down for the week a -1.08% thus far, with Nikkei index also down -0.53% for the day. Most of the decline comes from the weakness part in Kiwi, while Yen is more or less unchanged. All in all, the NZD/JPY is still up +9% year to date.
NZD/JPY key technical levels
Immediate support to the downside for NZD/JPY lies at recent session/weekly lows 78.02/00, followed by August 12 highs at 77.82, and August 12 NY session lows at 77.23. To the upside, closest resistance shows at Friday's lows 78.31, followed by yesterday's lows at 78.60, and August 14 highs at 78.98.