The rout in the yen isn't over on every front: NZD/JPY nears a 7-year high<p>The NZD/JPY weekly chart is one of the more-interesting ones out there right now as it brushes up against the September high. If that breaks, it will take the pair all the way back to 2015 levels and a time when the pair touched 94.00.</p><p>The general feeling is that yen weakness is over after the spike in USD/JPY to 150.00 but this chart and some others argue that USD weakness is more the case.</p><p>Lately, the antipodean currencies are benefiting from speculation around China reopening and AUD/JPY also posted a decent week.</p><p>The rise in the pair is also reminiscent of the old carry trade. The RBNZ cash rate is now at 4.25% and another 50 bps is expected in February. That's a hefty carry over zeroed out JPY rates, though risks around global economic growth are high.</p>
This article was written by Adam Button at www.forexlive.com.
Source: The rout in the yen isn't over on every front: NZD/JPY nears a 7-year high (https://www.forexlive.com/technical-analysis/the-rout-in-the-yen-isnt-over-on-every-front-nzdjpy-nears-a-7-year-high-20221209/https://www.forexlive.com/technical-analysis/the-rout-in-the-yen-isnt-over-on-every-front-nzdjpy-nears-a-7-year-high-20221209/)
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