FxWirePro: NZD/JPY Trade Idea

NZD/JPY chart on Trading View used for analysis

FxWirePro Currency Strength Index for NZD/JPY: Bias Bullish
FxWirePro's Hourly NZD Spot Index was at 150.781 (Bullish)
FxWirePro's Hourly JPY Spot Index was at -71.8495 (Neutral)

Technical Analysis: Bias Bullish
- Holds 5-DMA support
- Breaks into cloud and above 21-EMA
- Stocks and RSI are biased higher
- MACD is on verge of bullish crossover on signal line

Support levels - 73.75 (21-EMA), 73.55 (5-DMA)
Resistance levels - 74.12 (55-EMA), 74.86 (110-EMA)

Recommendation: Stay long on breakout at 55-EMA, SL: 73.75, TP: 74.55/ 74.86

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.