FxWirePro: NZD/JPY edges lower from session highs at 74.51, bias higher

• Risk sentiment weakens amid mixed Asian markets, yen strengthens weighing on NZD/JPY.
   
• Also, Kiwi bulls shrug off a slightly better RBNZ Q2 2-year inflation expectations reading, coming in at 1.64% versus 1.63% last.
   
• The gauge remained at the second lowest levels since June quarter in 2014 and weighed negatively on the sentiment around the NZD.
   
• NZD/JPY edges lower from session highs at 74.51, strong resistance seen at 74.60. Further gains only on break above.
   
• Our previous call (http://www.econotimes.com/FxWirePro-NZD-JPY-faces-stiff-resistance-at-7380-good-to-buy-breakout-above-208578) has achieved targets 1 and 2.
  ​

Recommendation: Book partial profits, raise stops to 74, break above 74.60 cloud see test of 74.70/74.90/75.10