NZD/JPY gains stall at strong resistance, downside target 76.90

NZD/JPY upside stalls at strong resistance, scope for downside to test 76.90.

Stochs and RSI on 4H charts are indicative of some correction lower.

A bearish 5DMA cross over on 10-DMA seen, momentum has turned bearish.

Sell rallies around 77.60/70, SL: 78.30, TP: 77/76.90/76.50

Trade attivo:

All target hit. Momentum still heavily bearish. Scope for 75.70

Pair find minor support by 10-DMA at 76.45, breaks below will accentuate downside.

Book partial profits, lower stop to 77, target 76.20/75.70

Trade chiuso: obiettivo raggiunto:

All targets hit. NZD/JPY currently @ 75.51 after hitting lows of 75.43.

Strong support at 75.25 levels. Further weakness only on breaks below.