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14 Aug 2013
NZD/JPY lifted up above 78.50 zone
FXstreet.com (Chicago) - NZD/JPY reached 78.50 followed by a small short-lived retracement to 78.40 zone post NZ retail sales.
Retail sales data in New Zealand outperformed expectations at 1.25% to jump to 1.70% for the second quarter of 2013. Retail sales ex autos data (QoQ) was also positive as current results at 2.3% surpass 1.0% previous growth.
Price action indicates there is a bullish sentiment among market participants towards a pair trading at 78.39 between supports at 78.26 (July 31st highs), 78.00 (July 29th lows) and 77.74 (August 1st highs). On the upside, resistances are aligned at 78.69 (July 29th highs) followed by 78.90 (July 8th highs) and ahead of 79.15 (July 23rd lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis.
Retail sales data in New Zealand outperformed expectations at 1.25% to jump to 1.70% for the second quarter of 2013. Retail sales ex autos data (QoQ) was also positive as current results at 2.3% surpass 1.0% previous growth.
Price action indicates there is a bullish sentiment among market participants towards a pair trading at 78.39 between supports at 78.26 (July 31st highs), 78.00 (July 29th lows) and 77.74 (August 1st highs). On the upside, resistances are aligned at 78.69 (July 29th highs) followed by 78.90 (July 8th highs) and ahead of 79.15 (July 23rd lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis.