NZDJPY – Downtrend Intact, Patience Required
NZDJPY matches strong vs. weak pairs in FX.
Downtrend is intact and key resistance and continuation levels are highlighted.
We suggest patience because the RBNZ is due tonight and can materially change things.
Markets are looking for a rate cut (which would enhance the downtrend), but if they hold steady it will push NZD much higher.