FxWirePro Currency Strength Index for NZD/JPY: Bias Bearish
FxWirePro's Hourly NZD Spot Index was at -21.1018 (Neutral)
FxWirePro's Hourly JPY Spot Index was at 139.582 (Bullish)
Technical Analysis: Bias Bearish
- Cloud caps upside
- Price action below major EMAs and EMAs biased south
- RSI shows weakness below 50 levels and bias lower
- Momentum studies bearish, Stochs well into oversold territory
Support levels - 76.16 (Apr 3 lows), 75.90 (major trendline), 75.54 (Mar 23 low)
Resistance levels - 76.83 (5-DMA), 77, 77.39 (21-EMA)
Recommendation: Good to go short on rallies around 76.75, SL: 77.20, TP: 76.20/ 75.90/ 75.55.
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