#NZDJPY @ 87.6760 An upbeat sentiment bolstered the New Zeland Dollar to fresh yearly highs vs. the Japanese Yen. (Pivot Orderbook analysis)
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- An upbeat sentiment bolstered the New Zeland Dollar to fresh yearly highs vs. the Japanese Yen.
- NZD/JPY: A decisive break above 87.93 could open the door above 88.00; otherwise, a fall towards 87.00 is likely.
The pair currently trades last at 87.6760.
The previous day high was 87.71 while the previous day low was 86.74. The daily 38.2% Fib levels comes at 87.34, expected to provide support. Similarly, the daily 61.8% fib level is at 87.11, expected to provide support.
The New Zealand Dollar (NZD) reached a fresh 52-week high around 87.93 during Monday’s trading session, courtesy of a risk-on impulse, which bolstered risk-perceived currencies to the detriment of the Japanese Yen (JPY). At the time of writing, the NZD/JPY is trading at 87.80.
The NZD/JPY hit a fresh YTD high of 87.93 on Monday, invalidating a previous double-top formation that emerged in November 2022. The cross-currency pair remains upward biased, though the Relative Strength Index (RSI) at bullish territory turned flat, while the Rate of Change (RoC) depicts buyers losing momentum.
In the near term, the NZD/JPY 1-hour chart illustrates the pair is upward biased, though a negative divergence between price action and the Relative Strength Index (RSI) suggests sellers are moving in. Additionally, the Rate of Change (RoC) shows that buying pressure is fading. Hence, the NZD/JPY first support would be the daily pivot point at 87.69. A breach of the latter will expose the intersection of the S1 pivot point and the 50-Exponential Moving Average (EMA) at 87.44, followed by the 100-EMA at 87.19 and the S2 pivot point at 87.04.
Technical Levels: Supports and Resistances
NZDJPY currently trading at 87.82 at the time of writing. Pair opened at 87.71 and is trading with a change of 0.13 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 87.82 |
| 1 | Today Daily Change | 0.11 |
| 2 | Today Daily Change % | 0.13 |
| 3 | Today daily open | 87.71 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 86.44, 50 SMA 85.27, 100 SMA @ 85.03 and 200 SMA @ 84.5.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 86.44 |
| 1 | Daily SMA50 | 85.27 |
| 2 | Daily SMA100 | 85.03 |
| 3 | Daily SMA200 | 84.50 |
The previous day high was 87.71 while the previous day low was 86.74. The daily 38.2% Fib levels comes at 87.34, expected to provide support. Similarly, the daily 61.8% fib level is at 87.11, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 87.06, 86.42, 86.09
- Pivot resistance is noted at 88.03, 88.35, 89.0
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 87.71 |
| Previous Daily Low | 86.74 |
| Previous Weekly High | 87.71 |
| Previous Weekly Low | 85.77 |
| Previous Monthly High | 87.46 |
| Previous Monthly Low | 83.86 |
| Daily Fibonacci 38.2% | 87.34 |
| Daily Fibonacci 61.8% | 87.11 |
| Daily Pivot Point S1 | 87.06 |
| Daily Pivot Point S2 | 86.42 |
| Daily Pivot Point S3 | 86.09 |
| Daily Pivot Point R1 | 88.03 |
| Daily Pivot Point R2 | 88.35 |
| Daily Pivot Point R3 | 89.00 |
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