27 Feb 2019
NZD/JPY Technical Analysis: Above 76.4% fibo, Bulls will look to a break to R3 76.90
- NZD/JPY pressures the upside while trading above the 21-D SMA.
- Alligator MAs are bullish around the 4hr pivot point.
- A break of fractal swing high located at 76.54 with the confluence of the 76.4% fibo of the Dec 2018 downtrend to flash crash lows opens a run to 77 the figure confluence with R2 - (76.99 will meet the 9th Dec lows).
- However, MACD is turning negative and on the flip side, a break of the 21-D SMA opens risk to S3 at 75.25.
