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EUR/JPY struggles with 100 SMA on 4hr - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that a weaker Japanese yen helped the EUR/JPY surge to an intraday high of 128.95 overnight.

Key Quotes:

"Albeit, the pair retreated from the level, still unable to define a clearer trend. Short term, the pair presents a bullish tone, as the 1 hour chart shows that the price bounced sharply from a bullish 100 SMA, currently around 128.30, whilst the technical indicators head higher above their mid-lines."

"In the same chart, the distance in between 100 and 200 SMAs keeps widening, which reflects buyers are taking the lead."

"In the 4 hours chart the price struggles around a mild bearish 100 SMA, whilst the technical indicators head higher above their mid-lines, supporting the shorter term view."

New Zealand Visitor Arrivals (YoY) up to 15.1% in March from previous 14%

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RBNZ: Willing to put up with low underlying inflation - Capital Economics

Paul Dales, Chief Economist Australia/New Zealand at Capital Economics, expects the RBNZ to remain neutral on April 30, although he still believes that a cut in the cash rate is coming later this year.
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