Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: NZD/JPY price action capped below strong trendline resistance at 76.70, good to go long on breaks above

  • NZD/JPY is extending gains after piercing into the daily cloud. 
     
  • Upside is seen capped by strong trendline resistance at 76.70, the pair has edged lower to currently trade at 76.62.
     
  • Converged 5&10 DMAs at 75.84 offer strong support on the downside ahead of cloud base at 75.64.
     
  • Daily techs are biased higher, a close above trendline resistance at 76.70 would take the pair higher.
     
  • Upside sees resistance at 77, 77.44 (March 7th highs) and 77.80 (March 4th highs).

Recommendation: Go long on close above 76.70, SL: 75.80, TP: 77/77.45/77.80
 

  • Market Data
Close

Welcome to EconoTimes

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