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NZD/JPY resumes bearish territory sub 85 handle

FXStreet (Barcelona) - NZD/JPY is trading at 84.45, down -0.58% on the day, having posted a daily high at 84.99 and low at 84.32.

NZD/JPY has dumped closing the bullish gap from last week's end of close business taking out S2 at 84.57. The drop puts the uptrend into question where rebounds had been marking down numbers on the 85 handle in a congested area where most of Octobers business had been taking place within a strongly bearish channel. The move came from today's Consumer Prices Index (3Q) that read lower than expected at 1.0% y/y vs 1.2% estimated and 1.6% prior. We also got a reading of 0.3% q/q vs 0.5% estimated and 0.3% previous.

NZD/JPY noteworthy levels

Current price is 84.47, with resistance ahead at 84.58 (Daily Classic S2), 84.59 (Weekly Low), 84.62 (Hourly 200 SMA), 84.83 (Yesterday's Low) and 84.87 (Daily Classic S1). Next support to the downside can be found at 84.32 (Daily Low), 84.29 (Weekly Classic PP), 84.27 (Daily Classic S3), 83.95 (Monthly Low) and 83.66 (Weekly Classic S1).

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