FxWirePro: NZD/JPY extends range trade below 200-SMA, intraday bias neutral

• NZD/JPY fails at 1H 200-SMA at 81.55, trades a narrow range in the Asian session.
   
• 50-DMA at 81.63 caps upside in the pair, intraday bias remains neutral.
   
• Price action remains rangebound between hourly 100 and 200 SMAs. Breakout will provide clear direction.
   
• Safe haven demand for yen on the back of political uncertainty in the euro area could weigh on the pair.
   
• Technical indicators do not provide clear directional bias for now and hence we would prefer to wait for clear indication.

Support levels - 81.40 (5-DMA), 81, 80.70 (Trendline), 80

Resistance levels - 81.79 (20-DMA), 81.98 (Weekly 5-SMA), 82.74 (Jan 19 high)

TIME  TREND INDEX  OB/OS INDEX    

1H          Neutral               Neutral       
4H          Neutral               Neutral       
1D          Neutral               Neutral        
1W         Neutral               Neutral    
 
FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at 59.7582(Slightly Bullish), while Hourly JPY Spot Index was at 20.4574 (Neutral) at 0615 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.