FxWirePro: USD/JPY slips lower for the 4th straight session, BoJ’s upbeat economic assessment underpins yen
FxWirePro:GBP/NZD bulls retreat ahead Of Bank of England policy meeting
• GBP/ NZD paused its gains on Tuesday as UK-specific issues returned to center stage ahead of this week's BoE meeting.
• Traders wondered whether Thursday's BoE meeting would provide clues as to whether policy makers might cut rates below zero.
• The pair attempted to breach resistance at 1.9803 ( 23.6% fib) and dipped towards 1.9750 level . A decisive break above 1.9803 could generate further gains.
• A decisive break above 1.9803 ( 23.6% fib )would facilitate test of the 100-DMA at 1.9909
• Immediate resistance is located at 1.9797 ( 23.6% fib), any close above will push the pair towards 1.9909 (100 DMA).
• Immediate support is seen at 1.0682 (Daily low) and break below could take the pair towards 1.9645 (38.2%fib).
• Recommendation: Good to buy around 1.9680, with stop loss of 1.9620 and target price of 1.9750