FxWirePro's Hourly Currency Strength Index bias for NZD/JPY: Bearish
FxWirePro's Hourly NZD Spot Index was at -82.0401: Bearish
FxWirePro's Hourly JPY Spot Index was at 106.336: Bullish
Technical Analysis: Bias bearish
- Upside in the pair fails to hold break above 20-DMA which is stiff resistance at 78.78
- Price action capped below 61.8% Fib at 78.79.
- RSI and Stochs have turned south, RSI below 50-levels
Support levels - 78.18 (Sept 7 low), 77.98 (May 30 low), 77.52 (trendline)
Resistance levels - 78.73 (5-DMA), 78.78 (20-DMA), 78.79 (61.8% Fib retrace of 75.626 to 83.910 rally)
Recommendation: Good to go short on rallies around 78.40, SL: 78.80, TP: 78.15/ 77.50
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
