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NZD/JPY has taken strong trendline support at 74.40 in Wednesday's trade and has closed higher.
- On today's charts, the pair is holding above 5-DMA (75.53), with scope for further upside.
- On the 4H charts we see a positive 5 and 10 day moving average crossover and price action has entered the cloud.
- Immediate resistance is seen at 76.30 (4H cloud top), while support on the downside lies at 75.53 (5-DMA).
Recommendation: Good to go long on dips around 75.65, SL: 74.40, TP: 76.30/77
