As mentioned on the NZD JPY analysis Jan 24th. "if we fail to break through the 61.8% (76.000) we could be looking to more downside movement"
and that is exactly where are. we can be looking forward to more down side on this, pair re-testing the lows of 72.280, Due to the un-employment rates released Statistics New Zealand being higher than expected.
The consensus was at 4.1 and the actual release was 4.3% thus making the currency drop in value.
I'm currently waiting on a re-test of the 50% ( 75.430) Fib level to enter a short position before we can head down to test support at 72.280.
Note: this pair moves a bit slower to the major pairs just be patient.
and that is exactly where are. we can be looking forward to more down side on this, pair re-testing the lows of 72.280, Due to the un-employment rates released Statistics New Zealand being higher than expected.
The consensus was at 4.1 and the actual release was 4.3% thus making the currency drop in value.
I'm currently waiting on a re-test of the 50% ( 75.430) Fib level to enter a short position before we can head down to test support at 72.280.
Note: this pair moves a bit slower to the major pairs just be patient.