NZD/JPY: Positive momentum to target the 84 area - Westpac

NZD/JPY retains positive momentum and targets the 84 area during the weeks ahead as the market focus returns to the timing of a potential snap election, and the usual end of month data which is rapidly approaching, according to Imre Speizer, Research Analyst at Westpac.

Key Quotes

“The event calendar this week includes flash PMI on Monday followed by IP, retail sales & housing starts on Friday.”

“3 months ahead: The BOJ’s defacto tapering of its asset purchases should be yen supportive. In addition, the Japanese economy is seeing a pickup in consumer activity, mitigating any slippage in external demand. The 84 area should cap this cross during the quarter ahead.”