FxWirePro: NZD/JPY Sees Strong Downside Bias, Good to Sell Rallies
- NZD/JPY price action breaks below daily cloud and bias is strongly to the downside.
- The pair has broken strong trendline support at 75.70 on Thursday's trade.
- Stochs are biased lower, and 5-DMA is showing a bearish crossover on 10-DMA.
- RSI is in neutral territory, but with a downside bias and MACD line also shows a bearish crossover on the signal line.
- The pair finds immediate resistance at 75.15 (4H 5-SMA), while support is seen at 74.62 (Mar 16th lows).