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.
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
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder 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