NZD/JPY: New Zealand dollar hold on to its gains at 76.552

Denis Joeli Fatiaki Independent Analyst

NZD/JPY: The pair pierced through the wedge price pattern in the 60 minutes time frame and reached 76.787 resistance in yesterday's session after a short burst to the upside but started losing ground during the European trading session and pushed prices down to 76.456 support. NZD/JPY is currently trading at 76.552 just above the support trendline which formed the short term wedge price pattern and will need to hold above 76.456 to continue to the upside. Failure to maintain activities above 76.456 could push prices down to 76.344/ 76.219.

Support - 76.456, 76.344, 76.219, 76.00

Resistance - 76.616, 76.787, 76.995

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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