NZD/JPY: Kiwi data disappoints, pair retreats to 78.00

• The Kiwi slips on mixed data after climbing Monday.
• BOJ talking down Yen still impacting overall market sentiment.

NZD/JPY slipped lower to end Monday's trading after moving flat through New York and is currently retreating to the 78.00 handle.

The Kiwi tumbled at Monday's start following Bank of Japan (BOJ) Governor Kuroda's reaffirming of the central bank's 2% target for Japanese inflation. Kuroda's words sparked a brief round of Yen-buying, but markets quickly turned face during the Tokyo trading session. 

Today's drop in the Kiwi comes on the back of a miss for export data, coming in at 4.31bln versus the expected 4.89; import figures came in positive, 4.87bln against the expected 4.60bln, but the previous figure suffered a downward revision to 4.89 from 4.91bln, sapping the positive energy from the figures.

New Zealand has little data scheduled for this week, with the next release scheduled for Thursday with Building Permit numbers, but the mid-tier release will do little to impact the overarching trends as market sentiment continues to drive the pair. 

NZD/JPY Technicals

Daily candles have dropped out of recent consolidation for the pair, but a lack of selling pressure will likely keep the pair above recent low points. H4 charts show a bounce off support from 77.64, with support priced in at 77.75 and the 78.00 major level, while resistance prices in at 78.30 and 78.45.