NZD/JPY chart on Trading View used for analysis
- NZD/JPY is trading 0.31% higher on the day at 74.88 at 1230 GMT.
- The pair is trading with a bullish bias, momentum with the bulls.
- Upside finds stiff resistance at 200-DMA at 75.26. Break above will see further upside.
- Next major resistance above 200-DMA lies at daily cloud at 75.59 ahead of 78.6% Fib at 76.83.
- On the flipside, 5-DMA is immediate support at 74.59. Break below 21-EMA to see further weakness.
Support levels - 74.33 (21-EMA), 73.76 (20-DMA)
Resistance levels - 75.26 (200-DMA), 75.59 (cloud base), 76.83 (78.6% Fib)
Recommendation: Watch out for break above 200-DMA to go long, target 75.60/ 76/ 76.80
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
