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Forex: NZD/JPY prints fresh 5-year highs above 84.00

FXstreet.com (Barcelona) - With Kiwi at 0.8475 near previous weekly highs, highest in last 7 weeks, and at an area around highs of latest 30 years, following best NZIER business confidence data since early 2012, NZD/JPY cross trades last at 84.21.

The cross is off fresh 5-year highs at 84.34, following latest BoJ minutes just released, and USD/JPY retracing to session lows at 99.34 from fresh multi year highs at 99.67. A little bit more than 1 hour away from key risk event of the session in the form of China CPI, NZD/JPY is up +2.49% for the week so far, and +7.8% since past Thursday BoJ Kuroda fulfilled market expectations with easing policy measures.

Immediate resistance to the upside for NZD/JPY shows at late Dec 2007 lows 84.75, followed by mid Feb 2008 lows at 85.20, and Jan 2008 highs at 86.22. To the downside, closest support lies at yesterday's London session highs 83.50, followed by yesterday's Asian session highs at 83.12, and Friday's highs at 82.52.

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