- 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).
Recommendation: Good to sell rallies around 75 levels, SL: 75.60, TP: 74.40/74.15/74
The material has been provided by InstaForex Company – www.instaforex.com