Levels to watch in USD/JPY and NZD/USD
Skerdian Meta • 1 min read
USD/JPY – USD/JPY has made an impressive 600 pip comeback this week after a steep downtrend this year and particularly after the Brexit referendum. We are now just below 106 which is a mild resistance level. Above that comes today´s high at 106.30 where we can find the 50 moving average on the H4 forex chart and 107. The first support level comes at 105.50 which has held the price a couple of times in May and in June. Below that the 105 and 10430 levels will provide some decent support.
NZD/USD – This pair has seen some demand in the last two weeks especially after the RBNZ decision to bring an end the interest rate cuts. This week though, for no apparent reason it has been the weakest currency after the Yen. Anyway, here are the support and resistance levels. The first line of defence stands at 0.7140-50 which was the high on Monday and the low today, then comes 0.71 where we can find the 100 in the H4 forex chart. Resistance is provided by the 50 moving average on the H4 chart which stands at 0.7220 and above that 0.7240 will probably do the job to cap this forex pair.