76.55 holds the gate to challenge 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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