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2 Jan 2015
NZD/JPY forms a Doji on daily charts
FXStreet (Mumbai) - The NZD/JPY pair is indicating indecisiveness on the part of the investors on the first trading session of the new year as indicated by the formation of Doji candle on the daily charts.
The pair is trading dead flat at 93.42 levels, after having recovered from the low of 93.01. However, despite the recovery the pair could not sustain the gains at the high of 93.54 hit earlier today. Moreover, the pair is now stuck between the 5-DMA and the 10-DMA located at 93.55 and 93.29 levels.
The Kiwi was hit by a weak manufacturing data in China. The Chinese government’s official manufacturing Purchasing Managers Index slipped to 50.1 in December, its lowest in 1-1/2 years. However, the USD/JPY pair rose back above 120.00 levels today, which limited losses in the NZD/JPY cross.
NZD/JPY Technical Levels
The pair has an immediate resistance located at 93.55 (5-DMA), above which gains could be extended to 93.71 levels. Meanwhile, support is seen at 93.29 (10-DMA) and 93.00 levels.
The pair is trading dead flat at 93.42 levels, after having recovered from the low of 93.01. However, despite the recovery the pair could not sustain the gains at the high of 93.54 hit earlier today. Moreover, the pair is now stuck between the 5-DMA and the 10-DMA located at 93.55 and 93.29 levels.
The Kiwi was hit by a weak manufacturing data in China. The Chinese government’s official manufacturing Purchasing Managers Index slipped to 50.1 in December, its lowest in 1-1/2 years. However, the USD/JPY pair rose back above 120.00 levels today, which limited losses in the NZD/JPY cross.
NZD/JPY Technical Levels
The pair has an immediate resistance located at 93.55 (5-DMA), above which gains could be extended to 93.71 levels. Meanwhile, support is seen at 93.29 (10-DMA) and 93.00 levels.