NZD/JPY breaks stiff resistance at 73.80, targets 74.70
NZD/JPY extending upside after slight gap down open on the day following poor Chinese data over the weekend.
The pair has broken minor trendline resistance at 73.75 on the hourly charts, and has broken next stiff resistance at 73.80 (200-SMA and trendline).
Intraday bias remains higher. Breaks above 73.80 will find next major resistance at 74.20 (trendline) ahead of 74.70.
On the downside supports are seen at 73.66 (10-DMA), 73.31 (session lows) and then 73.20 (Feb 11th lows).
Good to go long on breakout above 73.80, SL: 73.30, TP: 74/74.20/74.70
The pair has broken minor trendline resistance at 73.75 on the hourly charts, and has broken next stiff resistance at 73.80 (200-SMA and trendline).
Intraday bias remains higher. Breaks above 73.80 will find next major resistance at 74.20 (trendline) ahead of 74.70.
On the downside supports are seen at 73.66 (10-DMA), 73.31 (session lows) and then 73.20 (Feb 11th lows).
Good to go long on breakout above 73.80, SL: 73.30, TP: 74/74.20/74.70
