FxWirePro: NZD/JPY capped below 50-DMA at 74.94, intraday bias higher, good to buy dips

• Kiwi extends upside for a second consecutive session and jumps sharply higher, tracking strong gains seen in its OZ counterpart.
   
• NZD/JPY hit fresh monthly highs at 74.93, upside capped at 50-DMA currently at 74.94, pair has slipped slightly to currently trade at 74.84.
   
• Immediate support is seen at 74.22 (5-DMA), while resistance above 50-DMA at 74.94 is located at 75.30 and then 75.75 levels.
   
• Techs indicate further upside, intraday bias higher, break above 74.94 could see gains upto 76.30. Break below 74.20 could drag the pair to 73.70 levels.
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Recommendation: Good to buy dips around 74.75/80, SL: 74.25, TP: 75/75.30/75.75