- Antipodeans boosted by upbeat China inflation data, while renewed risk-on keeps JPY subdued.
- NZD/JPY trades 0.66 percent higher on the day, break 20-DMA resistance at 73.70.
- Intraday bias higher, technical indicators also support upside.
- The pair finds strong trendline support at 72.85, we see weakness only on break below.
- On the flipside, close above 20-DMA could see test of 74.80 and then 75.40 levels.
- Major support levels - 73.88 (50-DMA), 73.70 (20-DMA), 73.44 (session lows)
- Major resistance levels - 74.80 (200-DMA), 75, 75.40 (trendline)
Recommendation: Good to go long on dips around 73.75/80, SL: 73.40, TP: 74.55/ 74.80/ 75/ 75.40
