Nick Nasad
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NZD/JPY: Kiwi Takes 86 Handle from JPY as Uptrend in Daily Continues

  • The NZD/JPY pair looks like its in the midst of a break-out through the 86 handle.
  • The pair has been in a consistent uptrend since the start of November and price broke a short term wedge pattern that was going into the horizontal resistance at 85.95.
  • Right now, I have a bearish posture on the JPY, and will be looking through my JPY crosses for currencies to go up against the weaker JPY.
  • With the Kiwi it's a nice good technical break, so will see if there is followthrough to the upside and be bullish in the short-term.