FxWirePro: NZD/JPY Stiff Resistance at 74.50, Breaks Above Could See Further Upside

FxWirePro: NZD/JPY Stiff Resistance at 74.50, Breaks Above Could See Further Upside

18 May 2016, 15:32
Roberto Jacobs
0
39

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. 


The material has been provided by ifx_logo.gif



Share it with friends: