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FxWirePro: NZD/JPY stiff resistance at 74.50, breaks above could see further upside

NZD/JPY stiff resistance at 74.50, further gains only on break above. RBNZ Q2 2-year inflation expectations gauge weighed negatively on the sentiment around the NZD. Momentum studies are neutral, but Stoch and MACD suppo…

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FxWirePro: NZD/JPY stiff resistance at 74.50, breaks above could see further upside
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  • NZD/JPY stiff resistance at 74.50, further gains only on break above.
     
  • RBNZ Q2 2-year inflation expectations gauge weighed negatively on the sentiment around the NZD.
     
  • Momentum studies are neutral, but Stoch and MACD support upside in the pair.
     
  • Breaks above 74.50 could take the pair to next resistance at 75.21 (55-EMA) and then 75.54 (cloud base).
     
  • Supports on the downside are located at 73.80 (10-DMA), 73.30 (trendline) and then 73 levels.
     

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