Forex Alerts 1/22/2009

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Alery - 16:45 (CET) - NzdJpy

The NzdJpy is trading at 46.41, ranging from 46.20 to 47.62 in the current session. The current price is under yesterday's close at 47.20. The 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.

After breaking the support at 48.19 (December 12th low), the traders are watching the next at 46.20 (December 8th, 2000 low) and 44.20 (December 1st, 200 low). The resistances are set at 50.00 (key), 54.72 (January 8th low), 56.36 (January 6th low).

As the equities are in positive terrain, the investors are back to the yen safe safe, which is advancing 0.20% against the kiwi. Remember that New Zealand exports raw materials and, therefore, its currency is strongly correlated to them. The crude, as the rest of the commodities, is declining more than 2%, due to the concerns about a deeper economic slowdown than anticipated.

Observing the daily charts, we see that the current price is under the 100.00% (63.57) retracement line. The 60-minute Relative Strenght Index (RSI) is at 44 points, rebounding from the oversold area. The volatility per hour is 160 pips.

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