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Forex: NZD/JPY bears defend 75.40

By FXstreet.com,  January 11, 2013, 12:31:00 AM EDT

FXstreet.com (San Francisco) - NZD/JPY touched multi-year highs as it tested offers above 75.00 today in Asia, peaking at 75.37 and reaching levels not seen since September 2008.

The move was largely underpinned by an extension of the overnight risk rally and on comments from Japan's new Prime Minister regarding the BoJ.

Last at quoted around the 75.00 figure, spot is poised to record an advance of 2.3% since the New Year, and around 8% since the breaking above key channel resistance (now support) at 69.50. Asian shares are mixed this Friday, but mostly lower. Japan's Nikkei is up 1.5%; Australian shares are down around -0.3% and the Hang Sen 40 is trading down 0.16%.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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