描述
⋅ NZD/JPY spikes past 200-DMA at 77.97.
Technical indicators have turned bullish, Stochs have bounced-off from near oversold levels and RSI points north.
Close above 200-DMA will confirm further bullishness, scope for test of 79.20 (trendline).
Caution advised as 'Death Cross' seen on daily charts, bullish invalidation likely on close below 50-DMA at 77.54.
Support levels - 77.97 (200-DMA), 77.59 (20-DMA), 77, 76.52 (50% Fibo 69.23 to 83.80 rally), 76
Resistance levels - 78.50 (May 16 high), 78.75 (38.2% Fibo 83.80 to 75.62 fall), 79.20 (trendline)
Our previous call (link below) has hit TP1.
Book partial profits at highs. Raise trailing stops to 77.55. Hold for upside.