FxWirePro: NZD/JPY upside stalls at strong cloud-top resistance, good to sell rallies, target 76.90

• Cloud top at 78.16 is strong resistance for the pair. Further upside can be seen on breaks above.
   
• Technical indicators on daily charts support further upside. Break above 78.16 could see test of 78.80 and then 79 levels.
   
• But downside could see test on 76.88 levels, Stochs and RSI on 4H charts are indicative of some correction lower.
   
• Doji formation evidenced at cloud top resistance, 4hourly charts show a bearish 5DMA cross over on 10-DMA, momentum has turned bearish.
   
• Immediate resistance is located at 77.67 (4H 5 SMA), while support is seen at 77.30 (Mar 31st lows).
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Recommendation: Sell rallies around 77.70, SL: 78.30, TP: 77/76.90/76.50