NZD/JPY targets 1&2 achieved, bias higher
Risk sentiment weakens amid mixed Asian markets, yen strengthens weighing on NZD/JPY.
Also, Kiwi bulls unimpressed by a slightly better RBNZ Q2 2-year inflation expectations reading, coming in at 1.64% versus 1.63% last.
The gauge remained at the second lowest levels since June quarter in 2014 and weighed negatively on the sentiment around the NZD.
NZD/JPY edges lower from session highs at 74.51, strong resistance seen at 74.60. Further gains only on break above.
Our previous call (link below) has achieved targets 1 and 2.
Book partial profits, raise stops to 74, break above 74.60 cloud see test of 74.70/74.90/75.10
Also, Kiwi bulls unimpressed by a slightly better RBNZ Q2 2-year inflation expectations reading, coming in at 1.64% versus 1.63% last.
The gauge remained at the second lowest levels since June quarter in 2014 and weighed negatively on the sentiment around the NZD.
NZD/JPY edges lower from session highs at 74.51, strong resistance seen at 74.60. Further gains only on break above.
Our previous call (link below) has achieved targets 1 and 2.
Book partial profits, raise stops to 74, break above 74.60 cloud see test of 74.70/74.90/75.10
