Fresh lows for NZD/JPY
NZD/JPY has fallen to a fresh session low, down 86 pips to 71.34.
That's less than 10 pips away from the Iraq attack low of 71.25. A break could set off another round of stops but I wouldn't expect a big move unless all global risk assets begin to roll over again. Outside of commodity currencies, stocks and gold are holding up at the moment.
In the bigger picture, the failure on this chart at the December highs and the looming chance of a lower low doesn't bode well.
