- NZD/JPY retraces break above 100-DMA, slips lower from session highs at 79.20.
- The pair trades with a neutral to slightly bullish bias. Breakout at 100-DMA could see further upside.
- Price action has broken into daily Ichimoku cloud. Stochs and RSI are biased higher.
- That said, momentum studies are still bearish, RSI is below 50-levels and MACD is below zero.
- Decisive close above cloud base and breakout at 100-DMA will see test of 81.15 (major trendline).
- Major support on the downside are seen at 77.80 (trendline) ahead of 77.26 (78.6% Fib).
Support levels - 78.70 (converged 5-DMA & cloud base), 78.18 (61.8% Fib), 77.80 (trendline), 77.26 (78.6% Fib)
Resistance levels - 79.47 (38.2% Fib), 79.99 (cloud top), 80.27 (23.6% Fib)
Recommendation: Good to go long on break out at 100-DMA, SL: 78.70, TP: 79.45/ 80/ 80.25.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


FxWirePro: GBP/AUD drifts lower could be on verge of bigger drop
FxWirePro: USD/CAD dips as weaker dollar gives bears some traction
Solana at a Crossroads: Triple Bottom Support Offers Lifeline for SOL Bulls
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/USD dips as strong U.S. data boosts greenback
Bitcoin Rises on Diplomatic Hopes: Bulls Eye $85,000 Ahead of Ceasefire Talks
FxWirePro: GBP/USD recovers from early dip but upside is limited
FxWirePro: EUR/AUD downtrend loses steam but outlook still bearish
FxWirePro: EUR/ NZD downside pressure builds, key support level in focus
FxWirePro- Major Pair levels and bias summary
FxWirePro: NZD/USD firms as Q1 NZ CPI runs hotter than expected
Yen Under Siege: NZDJPY Bulls Eye 96.00 Amid Broad Japanese Weakness
FxWirePro- Major European Indices
FxWirePro: USD/JPY edges higher as yen weakens on BOJ policy uncertainty
FxWirePro: GBP/NZD bears gain momentum awaiting Mideast Geopolitical clarity
FxWirePro: USD/ZAR trades in narrow range as Middle East tensions fester 



