- Rising triangle pattern found on NZD/JPY charts, with strong resistance at 83.20 trendline.
- Price action is above the cloud and Tenkan and Kijun show bullish crossover above the cloud which shows upside potential, RSI points north while Stochs are in nuetral territory.
- The kiwi making headway after slightly narrower-than-expected November trade deficit lends support. Broadly stable commodity prices and improving risk appetite also helping the Kiwi.
- Watchout for breaks above 83.20, pair could then target 84.76 (61.8 % Fib of 92.40-72.40 fall).
- NZD/JPY is currently trading at 82.51 with immediate support at 82.06 (5-DMA) and resistance at 82.79 (Dec 22 high)
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