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NZDJPY: Sell the Rallies as Bears Guard 92 and Range Trade Persists 
- U.S dollar index has broken major support of 93.85 low made on Jul 21st 2017 low and declined till 93.64 at the time of writing. It is currently trading around 93.79.
- In the daily chart, index upside capped by 10- day MA at 94.92 and any break above will take the DXY till 95.44 (21- EMA)/96.69 (55- day EMA).
The minor resistance is around 94.35 (5- day MA).
- On the lower side, any daily close below 94 will drag the index till 93 in the short term.
- Short term bearish invalidation only above 97.87.
It is good to sell on rallies around 94 with SL around 94.60 for the TP of 93.
