NZDJPY (D) - medium term bullish bias
The Japanese yen has been weakening across the board due to a combination of fundamental and technical factors. Sentiment gradually has improved in the global markets and we may expect increasing pressure on the safe haven currencies like the yen. The bullish RSI at the end of August was a forward warning of waning momentum on the downside. The break of the major resistance of 69.50 and then a bullish MA cross were confirmations that the tide has turned.
Key support: 68.90
Key resistance: 72.00
The Japanese yen has been weakening across the board due to a combination of fundamental and technical factors. Sentiment gradually has improved in the global markets and we may expect increasing pressure on the safe haven currencies like the yen. The bullish RSI at the end of August was a forward warning of waning momentum on the downside. The break of the major resistance of 69.50 and then a bullish MA cross were confirmations that the tide has turned.
Key support: 68.90
Key resistance: 72.00