FxWirePro: NZD/JPY capped below 50-DMA at 74.94, intraday bias higher, good to buy dips
Kiwi extends upside for a second consecutive session and jumps sharply higher, tracking strong gains seen in its OZ counterpart. NZD/JPY hit fresh monthly highs at 74.93, upside capped at 50-DMA currently at 74.94, pair …
Kiwi extends upside for a second consecutive session and jumps sharply higher, tracking strong gains seen in its OZ counterpart.
NZD/JPY hit fresh monthly highs at 74.93, upside capped at 50-DMA currently at 74.94, pair has slipped slightly to currently trade at 74.84.
Immediate support is seen at 74.22 (5-DMA), while resistance above 50-DMA at 74.94 is located at 75.30 and then 75.75 levels.
Techs indicate further upside, intraday bias higher, break above 74.94 could see gains upto 76.30. Break below 74.20 could drag the pair to 73.70 levels.
Recommendation: Good to buy dips around 74.75/80, SL: 74.25, TP: 75/75.30/75.75
