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  • 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

NZD/JPY

Overview:
       Today Last Price:  76.26
       Today Daily change:  0.17  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