Some positive developments this week on the NZD/JPY charts. The gains were larger on all the yen crosses were until today’s retracement.
This pair has rebounded from uptrend support and broken above the September high. The next step will be a weekly close above 65.70 but overall, the picture is positive.
The latest BOJ chatter is about a 20T asset purchase, about double what the market is expecting. The resilience of the New Zealand dollar in spite of yesterday’s dovish comments from new RBNZ governor Wheeler were also encouraging.
