- NZD/JPY healing halts at 5-DMA, set edges lower after hitting highs of 76.58 on Thursday'' s trade. The set is in a significant bear trend, finds small support at 75.60, break listed below targets 78.6% Fib at 72.61.
- Price action is below 200-DMA, break listed below 75.60 will see resumption of drop.
- Bears then target 78.6% Fib retracement of 69.23 to 83.80 rally at 72.61.
- Momentum studies are bearish, technical indications are biased lower.
- Risk-off controls amid stress in the Korean peninsula and as United States battle Afghanistan continue to keep and startle markets yen supported.
Support levels – 75.60 (trendline), 74.80 (61.8% Fib), 73.69 (Nov 9th low), 72.61 (78.6% Fib) Resistance levels – 76.36 (5-DMA), 76.52 (50% Fib), 77, 77.54 (20-DMA) TIME PATTERN INDEX OB/OS INDEX 1H Bearish Neutral .
4H Bearish Neutral .
1D Bearish Oversold .
1W Bearish Neutral Suggestion: Great to go short on rallies around 76.15/ 25, SL: 76.60, TP: 75/ 74.80/ 74/ 73.70 FxWirePro Currency Strength Index: FxWirePro'' s Per hour NZD Spot Index was at 84.408( Bullish), while Hourly JPY Area Index was at 189.258 (Bullish) at 0620 GMT. For more information on FxWirePro'' s Currency Strength Index, go to http://www.fxwirepro.com/currencyindex!.?.!. . The product has actually been offered by InstaForex Business-