NZD/JPY chart - Trading View
- NZD/JPY has bounced off 20-DMA support with a 'Doji' formation on the daily candle.
- The pair is trading at 76.429 at 1000 GMT, up 0.33% at the time of writing.
- Momentum studies are bullish. Stochs and RSI are biased higher. RSI shows strength above 50.
- Price action is above cloud and major moving averages. Scope for further gains.
- Next major resistance lies at 76.84 (78.6% Fib) ahead of 77.20 (rising trendline).
- Immediate support is seen at 76.23 (5-DMA), break below 20-DMA (75.95) to see dip till 200-DMA.
Support levels - 76.23 (5-DMA), 75.95 (20-DMA), 75.10 (200-DMA)
Resistance levels - 76.83 (78.6% Fib), 77, 77.20 (rising trendline)
Recommendation: Good to go long on dips. SL: 76, TP: 76.80/ 77.20
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
