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Kiwi Under Pressure: NZDJPY Pulls Back as Bearish Momentum Builds

 

 

NZDJPY pared some of  its gains on board-based New Zealand dollar selling.  It reached an intraday low of 93.59 and is currently trading near 93.61. If the 94.40 resistance holds,  the downward trend seems to be going well.

 

Technicals

CMP -93.59

Trend

1- Hour chart

Value

 

 

55 EMA

93.66

CMP< value

Bullish

200- EMA

93.38

CMP >value

Bullish

365- EMA

93.30

CMP>value

Bullish

 Near-term resistance - 94/94.50/95/96. Near-term support- 92.70/91.80/91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-45.45

ADX

Bearish

Strength increased from 13.94 to 16.38

 It is good to sell on rallies around 93.58-60  with SL around 94.40 for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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