FxWirePro
Short

NZD/JPY breaks major support at 76.05, good to sell rallies

FX:NZDJPY   New Zealand Dollar/Japanese Yen
146 0 6
Kiwi rallied after the RBNZ left its interest rates on hold at 2.25%, but the rally lacked follow-through.

The bird failed to sustain at higher levels and now extends its corrective slide as risk-off trades intensified.

NZD/JPY is retracing from 7-week high of 76.29 hit on Thursday, has broken below major supports trendline at 76.05 on 2H 21-SMA at 75.74.

Next major support aligns at 75.54 (daily cloud top), 75. 44             (100-DMA) and then 75 (2H 50-SMA). Break below 100-DMA at 75. 44             will see weakness upto 5-DMA at 75.26.

On the upside, the pair is capped by strong trendline resistance, currently at 76.25, bearish invalidation only on break above.

Techs on 2H charts support downside, Stoch and RSI are biased lower.

Good to sell rallies around 75.80, SL: 76.25, TP: 75.55/75
Comment: All targets hit. Book partial profits.

Major support at 74.47, break below to see test of 74 levels, stay short.
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out