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FxWirePro: NZD/JPY rejected at session highs (76.92), sees strong resistance at 77 levels

NZD/JPY edges lower from session highs at 76.92, and is currently trading around 76.37 levels.

  • The pair finds strong resistance at 77 levels which is falling trendline connecting 77.80 (Mar 3rd highs), 82.67 (Dec 31st high), 82.86 (Dec 29th highs).
     
  • Price action remains well below the cloud and 200-DMA, momentum studies are neutral.
     
  • Breaks above 77 cloud see further bullishness, while on the downside break below 75.96 (5-DMA) could see weakness upto 75.40 (trendline support).
     
  • Market focus remains on BoJ policy meet scheduled for Tuesday, 15th March for further direction.
  • Market Data
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