FxWirePro: NZD/JPY sees strong downside bias, good to sell rallies

• NZD/JPY price action breaks below daily cloud and bias is strongly to the downside. 
   
• The pair has broken strong trendline support at 75.70 on Thursday's trade.
   
• Stochs are biased lower, and 5-DMA is showing a bearish crossover on 10-DMA.
   
• RSI is in neutral territory, but with a downside bias and MACD line also shows a bearish crossover on the signal line.
   
• The pair finds immediate resistance at 75.15 (4H 5-SMA), while support is seen at 74.62 (Mar 16th lows).
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Recommendation: Good to sell rallies around 75 levels, SL: 75.60, TP: 74.40/74.15/74