NZD /USD breaks 200 day HMA, decline till 0.7420 is possible

•  RES 4: 0.7740 (Apr 22^nd high)
  
  
•  RES 3:0.7678 (Cloud bottom)
•  RES 2: 0.7640 (20 day HMA)
  
  
•   RES 1: 0.7603 (100 day HMA)

      PRICE:0.7550 @7:14 GMT 

•   SUP 1: 0.7545 (61.8% retracement of 0.7420 and 0.7732)
  
  
•   SUP 2: 0.7480 (Apr 15^th low)
  
  
•   SUP 3:0.7420 (Apr 13^th low)
  
  
•  SUP 4: 0.7390 (Apr 1^st low)

Commentary:

NZD/JPY has formed almost a double top around 0.7738 and retreated from that level. This confirms short term bearishness, a decline till 0.7420 cannot be ruled out.

On the downside minor support is around 0.7545 and break below drag the pair further down till 0.7480/0.7420.

It is good to sell on rallies around 0.7600 with stop around 0.7680 for the target of 0.7420.