FxWirePro: NZD/JPY slips below 5-DMA, scope for test of 75 levels

• NZD/JPY upside stalls at strong trendline resistance, pair slips below 5-DMA support at 75.52.
   
• Daily cloud (currently spanning 76.25 - 78.28) also strong resistance for upside in the pair.
   
• Major moving averages and Stochs are biased lower, we see scope for test of 75 and further weakness could see 74.50.
   
• Resistances for the pair are aligned at 75.70 (10-DMA), 76 and the 76.15 (falling trendline).
   
• On the downside supports are located at 75 (Double bottom Mar 3rd & Feb 18th), 74.45 (Double bottom Feb 17th & 25th), 74.30 (trendline).
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Recommendation: Good to sell rallies around 75.30/35, SL: 75.70, TP: 75/74.45