The NZD/JPY pair might head lower in the medium and long term. The RSI oscillator is below 50 on the daily and weekly charts, and this shows a downtrend. The stochastic oscillator also indicates that the pair might fall in the next few weeks, according to the daily chart.
The NZD/JPY has remained in a downward trend channel for the past 12 months, hitting over a two year lower earlier in August.
The most important data of this week:
New Zealand GDP QoQ (+0.8% expectation); ( +0.5% previous)
YoY (+2.5% expectation); ( +2.7% previous)
BOJ rate decision (-0.10% expectation); ( -0.10% previous)
Japan CPI YoY (+1.1% expectation); (+0.9% previous)