Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: NZD/JPY sees strong support at 75.35, weakness only on breaks below

  • NZD/JPY edges lower on the day as BoJ holds policy rates unchanged and turned out surprisingly hawkish.
     
  • Downside in the pair is holding strong trendline support at 75.35, we see weakness only on breaks below.
     
  • Technicals on the 4 hourly charts indicates further downside, breaks below 75.35 could see test of 75 and then 74.40.
     
  • On the upside, the pair finds immediate resistance at 75.80 (5 DMA) ahead of 76.08 (session highs).

Recommendation: Go short on breaks below 75.35, SL: 75.80, TP: 75/74.50/74.40
 

  • Market Data
Close

Welcome to EconoTimes

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