FxWirePro: NZD/JPY holds 200-DMA support, weakness only on break below

NZD/JPY chart - Trading View 

• NZD/JPY is trading 0.70% higher on the day at 75.73 at 0920 GMT.
   
• The pair finds strong support at 200-DMA (currently at 75.05), weakness only on break below.
   
• Kiwi buoyed on upbeat GDT Price Index, strong China services PMI data and US-China trade optimism.
   
• Also, BOJ Dep Gov Wakatabe's comments that inflation remains subdued globally may have added to the bearish pressures around the JPY. 
   
• Stochs are showing a rollover from near oversold levels and RSI is biased higher.
   
• Scope for upside till 76.55 (trendline). Further upside momentum will take the pair to 76.78 (Mar 21 high).
   
• Break below 200-DMA support can see dip till cloud base at 73.72.

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