NZDJPY Daily updates for 21.06.2016

In the wake of Japanese Finance minister Aso saying that any kind of unprecedented moves in the FX market is undesirable, we saw the yen losing ground earlier in the Asian session. Well, even though we understand any strengthening of the yen will hurt their export market, chances are the BoJ will leave the markets to price the yen fairly and especially now that we are approaching the very uncertain Brexit Vote. Technically, we shall have to wait for price to close above that 100% Fibonacci level before we initiate our long and be in sync with the general trend which is developing in this pair. At the moment that strong bullish candle in the 4HR chart will confirm things if it does close above the 74.50 level.

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