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NZD/JPY Double Bottom Signals a Potential Push Toward 90 as 88 Support Holds

NZDJPY formed a double bottom and showed a minor pullback. The uptrend seems to be leaning toward favorability if the 88 support holds.

Technicals

CMP-88.91

Trend

1- Hour chart

Value

 

 

55 EMA

88.78

CMP>value

Bullish

200- EMA

90.21

CMP <value

Bearish

365- EMA

89.30

CMP<value

Bearish

  1. EMA

91.20

CMP<Value

Bearish

 Near-term resistance - 89/89.60/90/90.80/91.25/91.80/92/92.30/93.20. Near-term support- 88/87/86.34.

Momentum indicator

Inference

Value

CCI(50)

Bullish

52.48

ADX

Neutral

 

 It is good to buy on dips around 88.48-50 an SL around 88 for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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