NZDJPY Chart Technical Outlook corrects lower amid cautious investors
NZD/JPY traded higher in June, while both currencies can be attributed as weak due to the BoJ and the RBNZ being dovish.
The pair correlates positively with stocks and can trade sideways among cautious investors ahead of today’s Fed’s Powell testimony.
It can form a corrective ABC structure to meet the 38.2% Fibo level at 86.70, where buyers could step in.
Resistances: 87.90, 88.50
Supports: 87.25, 86.70