NZDJPY Chart Technical Outlook heads south toward 88.00 after weak data from New Zealand
NZD/JPY is under pressure after today’s weaker print in the Business NZ PMI. The broad bias is bullish, and dips should find buyers. A short-term downside price action is possible if the risk-off sentiment continues from yesterday’s strong US Inflation data.
Prices stalled at the previous month’s high and bounced lower. They have room for the downside. A break of 88.00 opens the door for 87.50, cluster support of previously broken resistance, and trendline support.
Resistances are located at 89.30 and 90.00.
