Bullish Shark on NZD/JPY, break above 74.55 targets 75.50
Bullish Shark pattern evidenced on NZD/JPY dailies.
Pair has edged higher from Potential Reversal Zone at 72.54.
Upside struggles at major trendline resistance by 74.50. Break above to resume upside.
Technical indicators support upside. Momentum studies are neutral, Stochs are biased higher.
Breaks above 74.50 could take the pair to next resistance at 75.15 (55-EMA) and then 75.51 (61.8% Fib of XA leg).
Supports on the downside are located at 74.22 (5-DMA), 73.98 (10-DMA) and then 73 levels.
Go long on decisive breaks above 74.50, SL: 74, TP: 75/75.50/75.75
Pair has edged higher from Potential Reversal Zone at 72.54.
Upside struggles at major trendline resistance by 74.50. Break above to resume upside.
Technical indicators support upside. Momentum studies are neutral, Stochs are biased higher.
Breaks above 74.50 could take the pair to next resistance at 75.15 (55-EMA) and then 75.51 (61.8% Fib of XA leg).
Supports on the downside are located at 74.22 (5-DMA), 73.98 (10-DMA) and then 73 levels.
Go long on decisive breaks above 74.50, SL: 74, TP: 75/75.50/75.75
