FxWirePro: NZD/JPY holds above 61.8% Fib at 80.92, targets 200W SMA at 81.72

• NZD/JPY in the green for the 8th consecutive week, hits fresh 2-month highs at 81.27.
   
• The pair is extending upside after breakout at major trendline resistance at 80.60.
   
• Technical indicators are bullishly aligned and we see scope for further upside. 81.72 (200W SMA) is next bull target.
   
• Breakout at 81.72 could propel the pair higher. We then see scope for test of 82.23 (78.6% Fib).
   
• While, on the flipside, retrace below 200-DMA at 79.36 negates bullish bias.

Support levels - 80.60 (trendline), 80.46 (5-DMA), 79.36 (200-DMA)

Resistance levels - 81.70 (200W SMA), 82.23 (78.6% Fib), 82.75 (Sept 21 high)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-JPY-rejected-below-5-DMA-on-track-to-test-trendline-resistance-at-8065-stay-long-1077539) has hit TP1/2.

Recommendation: Stay long for 81.70/ 82/ 82.25.

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