FX.co ★ NZD/JPY

Hello traders, Sellers are trying to push the NZDJPY currency pair down. The price has been brought back to the level of 87.50, which is capable of changing the sentiment to bearish, even if only in the short term. If sellers manage to firmly establish below 87.50, and then below 87.30, a decline to 87.00, 86.75, 86.45, and possibly to 85.80 may become relevant. Price may bounce back from each of these levels and resume an upward movement, but it's important to observe the actual market behavior. There is also a possibility of a further drop, but this would require a significant rise in the Japanese yen. A confirmation of buyer strength above 87.90-88.00 for NZDJPY will indicate a serious buyer sentiment, paving the way for a continuation of the NZDJPY uptrend towards more distant and significant northern targets, such as 89.70 and ideally 92.00.