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NZDJPY: Bearish Bias Persists — Sell Rallies Near 90 Targeting 88 
- Major resistance – 1.12280 (100 day MA).
- Major intraday support – 1.11500 (90 day EMA).
- The pair has erased gains made yesterday after making a high of 1.11912. It is currently trading around 1.11632.
- Short term bullishness can be seen only above temporary top formed at 1.12337 (Aug 2nd high). Any violation above that level will take the pair to next immediate resistance 1.12668 (50% retracement of 1.16163 and 1.09115)/1.1300.
- On the lower side, support stands at 1.1150 and any indicative break below targets 1.1100/1.1079.
- Short term bearish invalidation only above 1.1430 (Jun 26th 2016 high).
It is good to sell on rallies around 1.11850-1.1190 with SL around 1.1235 for the TP of 1.1100/1.1075
