• FxWirePro: NZD/JPY extends choppy trade along 200-dma, decisive break below to see further downside

    来源: FxWire Pro - Technicals / 10 四月 2019 08:56:05   America/New_York

    NZD/JPY chart - Trading View 

    • NZD/JPY is extending choppy trade along 200-DMA, which is strong support at 75.06.
       
    • Technical indicators support weakness. Decisive break below will see further downside.
       
    • RSI is below 50 levels and Stochs are highly bearish. -ve DMI dominance adds to the bearish bias.
       
    • Further we see Bearish divergence on RSI and Stochs which supports downside.
       
    • 5-DMA is capping recovery attempts and decisive break below 200-DMA to see dip till 73.96 (38.2% Fib).
       
    • On the flipside, bounce off 200-DMA support and close above 5-DMA will see further upside.

    Support levels - 74.61 (Lower BB), 73.96 (38.2% Fib), 73.20 (Jan 17 low)

    Resistance levels - 75.06 (200-DMA), 75.13 (5-DMA), 75.40 (110-DMA)

    Recommendation: Stay short on decisive break below 200-DMA, SL: 75.20, TP: 74.60/ 74/ 73.20

    For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
     

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