- 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.
Recommendation: Good to buy dips around 74.75/80, SL: 74.25, TP: 75/75.30/75.75
