FxWirePro: NZD/JPY Stiff Resistance at 74.50, Breaks Above Could See Further Upside
- NZD/JPY stiff resistance at 74.50, further gains only on break above.
- RBNZ Q2 2-year inflation expectations gauge weighed negatively on the sentiment around the NZD.
- Momentum studies are neutral, but Stoch and MACD support upside in the pair.
- Breaks above 74.50 could take the pair to next resistance at 75.21 (55-EMA) and then 75.54 (cloud base).
- Supports on the downside are located at 73.80 (10-DMA), 73.30 (trendline) and then 73 levels.