NZDJPY
Many of the Yen pairs have found themselves at support with daily stochastics in oversold territory. We are expecting Yen weakness to kick in over the next two to three weeks, so maybe tomorrows catalyst for the Kiwi will be the quarterly Retail Sales figures due out at 23:45GMT on Sunday.
A good print here could see the Kiwi further strengthening off its bounce from the 61.8% Fibonacci retracement and previous daily structure levels. Ideally we would like to see a double bottom to confirm support. If we break down below 79.000 then we will re-assess at 78.000.
4hr Chart:
1hr Chart
15min Chart
Many of the Yen pairs have found themselves at support with daily stochastics in oversold territory. We are expecting Yen weakness to kick in over the next two to three weeks, so maybe tomorrows catalyst for the Kiwi will be the quarterly Retail Sales figures due out at 23:45GMT on Sunday.
A good print here could see the Kiwi further strengthening off its bounce from the 61.8% Fibonacci retracement and previous daily structure levels. Ideally we would like to see a double bottom to confirm support. If we break down below 79.000 then we will re-assess at 78.000.
4hr Chart:
1hr Chart
15min Chart