NZD/JPY broke above the ascending channel after which rejected 200- and then 50-Moving average. This is a sign of an emerging bullish trend.
Fibonacci applied to the channel breakout showed the pair rejected 50% Fibs support and continued to move higher. Consider buying NZD/JPY at the current level (75.35), targeting either 23.6% (76.00) or 0% Fibs (77.00) as a final target. Suggested stop loss is 74.70.
Support: 74.87, 74.37
Resistance: 75.37, 76.00, 77.00
From www.instaforex.com http://ift.tt/2f910PS
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