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Short

Short NZD/JPY break below 20-DMA at 74.28, target 72.90

FX:NZDJPY   New Zealand Dollar/Japanese Yen
171 1 6
NZD/USD             intraday bias lower, finds strong support by 20-DMA at 74.28.

Techs are bearishly aligned, RSI is biased lower, Stochs show bearish rollover from overbought zone.

MACD line is on the verge of bearish crossover on signal line.

Break below 20-DMA should be a good shorting opportunity.

Major support levels - 74.28 (20-DMA), 74 (50-DMA), 73.27 (tripple bottom Sept 11, Aug 25,26), 73, 72.90 ( trendline )

Major resistance levels - 74.97 (session high), 75, 75.85 ( trendline )

Go short on break below 20-DMA at 74.28, TP: 74/ 73.25/ 73/ 72.90
Hi

Thanks for this. Very helpful analysis.
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