Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: NZD/JPY trades a narrow range, further weakness only on break below 76

  • NZD/JPY is trading in a narrow range after Doji formation on Thursday.
     
  • Technical indicators on daily charts are still heavily bearish, but pair finds strong trendline support at 76 levels.
     
  • We see any further weakness only if pair manages to break below 76 mark.        
               
  • Daily Ichimoku cloud weighs heavily on the upside, which keeps bias lower.
     
  • Break below trendline support at 76 levels will see test of 75.50 (trendline).
     
  • On weekly charts, price action has failed to hold above weekly 50-SMA at 77 levels. Bearish invalidation on weekly close above 77 levels.

Support levels - 76 (trendline), 75.50 (trendline), 74.80 (61.8% Fib retrace of 69.23 to 83.80 rally)

Resistance levels - 77, 77.36 (cloud base), 77.48 (20-DMA), 78

Call update: We had advised a short call on NZD/JPY (http://www.econotimes.com/FxWirePro-Cloud-caps-upside-in-NZD-JPY-good-to-short-rallies-709904).

Recommendation: Stay short.

FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at -45.1566 (Bearish), while Hourly JPY Spot Index was at 74.1417 (Slightly bullish) at 0620 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

May 21 02:30 UTC Released

THGDP Growth QQ SA

Actual

2 %

Forecast

1.05 %

Previous

0.5 %

May 21 02:30 UTC Released

THGDP Growth YY

Actual

4.8 %

Forecast

4 %

Previous

4 %

January 31 00:00 UTC 158705158705m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 158705158705m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 170525170525m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 158705158705m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 170525170525m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 158705158705m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 158705158705m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 158705158705m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.