NZD/JPY Technical Analysis: 76.55 holds the gate to rising wedge resistance near 76.80
|- The NZD/JPY pair struggles around 76.30 during early Asian sessions on Tuesday.
- Pair’s trading patterns since early February month forms a short-term “Rising Wedge” bearish pattern on four-hour chart with 76.80 being the resistance and 76.45 acting as a pattern support.
- While lower highs since early last-week portray the pair weakness, refrain from declining beneath 75.90 indicates the underlying strength.
- 76.55 may offer immediate resistance to the quote ahead of highlighting pattern’s upper line figure of 76.80.
- Break of 76.80 negates the bearish formation and can propel the pair towards 77.00 and then to the mid-December highs near 77.50.
- On the downside slip under 75.90, 75.60 and 75.45 will gain market attention.
- In case 75.45 fall short of limiting the pair’s declines, the bearish formation gets confirmed and could please sellers with 73.15 and 72.50 supports.
- However, 75.00 and 74.45 may offer intermediate halts during the pair’s drop.
NZD/JPY 4-Hour chart
Additional important levels:
Overview:
Today Last Price: 76.26
Today Daily change: 17 pips
Today Daily change %: 0.22%
Today Daily Open: 76.09
Trends:
Daily SMA20: 75.5
Daily SMA50: 74.6
Daily SMA100: 75.35
Daily SMA200: 75.13
Levels:
Previous Daily High: 76.51
Previous Daily Low: 75.77
Previous Weekly High: 76.57
Previous Weekly Low: 75.66
Previous Monthly High: 76.57
Previous Monthly Low: 73.82
Daily Fibonacci 38.2%: 76.23
Daily Fibonacci 61.8%: 76.05
Daily Pivot Point S1: 75.74
Daily Pivot Point S2: 75.38
Daily Pivot Point S3: 74.99
Daily Pivot Point R1: 76.48
Daily Pivot Point R2: 76.86
Daily Pivot Point R3: 77.22
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