NZD/JPY breaks major support at 73.80, likely to test 72.30

FX:NZDJPY   New Zealand Dollar / Japanese Yen
96 0 6
NZD/JPY capped below 50% Fib ( Apr             28th to May 5th fall) at 74.97. Breaks major support at 73.80, is on track to test channel base support at 72.30.

Kiwi bears relentless amid risk-off sentiment persisting in the markets, both Asian equities and oil             prices trading in the red.

Poor Westpac MNI Chinese consumer sentiment data further adds to the downward pressure on the bird.

Techs also support downside, Stochs have bounced off from near overbought levels, 5-DMA is on the verge of a bearish crossover on 10-DMA. Momentum is bearish , RSI is biased lower.

US new home sales data due later today, and NZ             trade balance data due tomorrow may provide fresh direction on NZD/USD             .

Pair see strong resistance at 74 levels (converged 5&10 DMA and psychological level). Bearish invalidation above 74.

Supports ahead of 72.30 are located at 73.20, 73 and then 72.88 levels.

Good to sell rallies around 73.50/60, SL: 74, TP: 73/72.90/72.30
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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