New Zealand pair falls on expected moves

At the economic level

The New Zealand yen pair retreated during trading on Friday, after rising during the Asian trading period, in light of the scarcity of economic data from New Zealand.

On the other hand, Washington has made some progress in early trade talks with its Asian allies South Korea and Japan.

Japan's finance minister also said after meeting with US Treasury Secretary Scott Besant that no talks on currency targets had taken place, and Trump accused Tokyo of weakening its currency to help its exporters.

Bank of Japan Governor Kazuo Ueda confirmed in remarks on Thursday the central bank's commitment to raise interest rates if core inflation rises, but stressed the need for policymakers to study the implications of US tariffs.

Data on Friday showed core consumer prices in Tokyo rose by 3.4% in April, accelerating for the second month in a row.

The Bank of Japan is widely expected to keep its monetary policies unchanged at its two-day meeting ending on May first next week.

At the technical level

The New Zealand yen pair is trying to rebound from the downtrend levels at the daily level near the levels of 86.00, and we can sell the pair from the current levels or in case it reaches the levels of 86.30 and also 87.00.

We are targeting the 83.90 levels as an initial target and then the 80.80 levels.

This bearish scenario fails if the 87.50 levels break higher.