FxWirePro: NZD/JPY breaks above channel top, to see further gains on break above 76.30

• Kiwi saw huge gains after RBNZ held rates, NZD/JPY spiked past major resistances: 100-DMA at 75.45, channel top at 75.75.
   
• The pair hit 7-week high of 76.29, has erased some of the gains to currently trade at 75.90 levels.
   
• The negative performance of the Nikkei (-0.97%) has been supporting the demand for the Japanese Yen, weighing on the pair.
   
• Technically 76.30 is major trendline resistance for the pair, further upside can be seen only on breaks above.
   
• Indicators support upside in the pair, break above 76.30 can see test of 77 and then 77.35.
   
• On the downside, break below 100-DMA at 75.45 will see weakness upto 5-DMA at 74.86.
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Recommendation: Good to go long on break above 76.30, SL: 75.45, TP: 77/ 77.35