New Zealand Dollar is steady after RBNZ left interest rate unchanged and drops not clue on the timing of interest rate cuts. NZD/JPY’s focus is staying on 92.18 resistance. Decisive break there will argue that corrective pull back from 93.42 has completed with three waves down to 90.08. larger rise from 80.42 would then be ready to resume through 93.42 high.
However, rejection by 92.18, followed by break of 90.79 support, will turn bias back to the downside for 90.08 support. Further break there will argue that NZD/JPY is possibly in larger scale correction.
