5-DMA caps upside in NZD/JPY, good to sell rallies

FX:NZDJPY   New Zealand Dollar / Japanese Yen
119 0 9
NZD/JPY on track for a second week of losses, as Yen appreciation continues unabated, markets ignore verbal intervention efforts by BoJ authorities.

Chatter regarding BOJ intervention, in a bid to halt the yen appreciation, has started doing the rounds again.

The pair saw upticks to 75.89, but the pair has edged lower to currently trade at 75.16.

5-DMA is strong resistance on the upside, capping gains in the pair, any bullishness can be seen only on breaks above.

Downside looks vulnerable, momentum is with the bears, RSI and Stochs are biased lower, tests of 73 levels likely.

Markets continue to track the headlines from Japan and the BOJ for fresh incentives on the Yen.

We would sell rallies around 75.40, SL: 76, TP: 74.45/73.65/73.20

Resistance Levels:

R1: 75.87 (5-DMA)

R2: 76.0 ( Double top - Feb 11th and Jan 18th)

R3: 76.78 (Feb 10th highs)

Support Levels:

S1: 74.45 (Sept 7th lows)

S2: 73.65 (Jan 20th lows)

S3: 73.20 (Feb 11th lows)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out