NZD pairs across the board have moved higher and in many cases broken their respective resistance levels. The NZDJPY in particular has now broken higher into fresh multi year highs.
The last time the NZDJPY was this high was back in May of 2010, which goes to show just how much control the bulls have had over this market of late.
Trading with the trend is nearly always the best play and this market is no different. Price Action traders could look for any weakness which sees price rotate lower to get long with this strong up-trend. Retracements lower into support could present with good opportunities to get long from a value area.
NZDJPY DAILY CHART – 12 DEC 2012
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