NZD/JPY Technical Analysis: 74.45-50 appears on buyers’ radar

• The NZD/JPY pair again bounced off the month-long support-line during early Monday and is presently rising towards 74.45-50 resistance-area.
• During the pair’s extended up moves past-74.50, 74.70. 75.15 and 75.55 may offer intermediate halts during its rally to 75.90.
• In case prices slip under 73.90 support-line then the sellers can aim for 38.2% Fibonacci retracement of its recent surge, around 73.40.
• Assuming the Bears capacity to rule after 73.40, 72.90 and 72.40 may become their favorites.
• While gradually recovering 14-bar relative strength index (RSI) signal the pair’s rise, successful break of 74.50 seem prerequisite to justify the strength of momentum.

NZD/JPY 4-Hour chart