The cross is now quoted at 64.40 and threatens to inch higher, sitting just beneath key resistance at 64.50, a level that attracted heavy selling interest on August 7.
According to Haruya Ida, analyst at IFR Markets, stops are located above 64.55. If NZD/JPY does manage to push above the mentioned resistance, the next target would be 64.85 (61.8%, 69.14/57.97), 65.25 (6 March low) and 65.55 (April 17 low). To the downside, the analyst identifies underlying support at 63.87 (Ichimoku tenkan line). Further support is noted at 63.60 (21 day EMA).