FxWirePro: NZD/JPY hovers around 20-DMA 76.93, good to go long on break above

• NZD/JPY trades 0.82% higher on the day, edges higher from session lows at 76.16.
  
• China has slapped extra tariffs of up to 25 percent on 128 US products.
  
• The resulting risk aversion in the US stocks pushed the Japanese Yen higher across the board.
  
• The pair is currently hovering around 20-DMA at 76.93, intraday bias remains higher.
  
• Focus on New Zealand NZIER Business Confidence for the first quarter of the year scheduled at 22:00 GMT.
  
• Decisive breakout at 20-DMA could see upside till 23.6% Fib at 77.51. Break above could see further upside.

Support levels - 76.82 (5-DMA), 75.70 (trendline), 75.54 (Mar 23 low)

Resistance levels - 77.34 (4H 200-SMA), 77.51 (23.6% Fib), 78

FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at 90.5939 (Bullish), while Hourly JPY Spot Index was at 16.8065 (Neutral) at 0840 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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