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NZD/JPY propelled to test key resistance

FXStreet (Guatemala) - NZD/JPY is trading at 88.81, up 0.50% on the day, having posted a daily high at 88.93 and low at 88.20.

NZD/JPY has surged on the domestic data that has seen the Employment Change registered at 0.8% above expectations (0.6%) in 3Q while the Unemployment Rate meets forecasts (5.4%) in 3Q. The pair is back to test the resistance that was set by the decline on the daily chart ahead of the 0.89 handle. Moving forward, on further promising domestic data alone in New Zealand, the cross could well be propelled while the BoJ’s actions last weak have been accepted so far and the Yen is orchestrated into a weaker position.

NZD/JPY noteworthy levels

With spot trading at 88.82, we can see next resistance ahead at 88.83 (Weekly Classic R1), 88.93 (Daily High), 89.28 (Daily Classic R3), 89.70 (Annual High) and 89.70 (3 Year High). Support below can be found at 88.76 (Daily Classic R2), 88.44 (Yesterday's High) and 88.38 (Weekly High).

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