NZD/JPY slowly pricing in a turnaround from 79.00

The week is continuing to move quietly with little volatility in the Asia session.
The Kiwi and the Yen both see light data scheduled for the week.

Joshua Gibson FXStreet

The NZD/JPY is trading flat in Asia's early Tuesday session, taking a cue from Monday's slow pacing.

Last week's market tensions about the Middle East and the ongoing Syria crisis broke over the weekend, and markets have hit the new week on a demure note, with the Asia sector taking a break from the now-common swings in risk appetite, and a notable lack of volatility has taken over the week's trading.

The Kiwi sees little data this week, although results of the Global Dairy Trade auction could provide some support if prices remain well bid heading into tomorrow, while the Yen will be seeing Merchandise Trade Balance figures at the tail end of Tuesday's session, at 23:50 GMT.

NZD/JPY Levels to watch

The Kiwi is holding well-bid against the Yen on the H4 charts, and bulls will be set to challenge the year's highs near 81.30 if they can climb over last week's high at 79.60, while a bearish correction will see support from the 34-day EMA at 77.90 and March's lows near 75.50.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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