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NZD/JPY Technical Analysis: Kiwi Pares Gains Below 89 Resistance as Bearish Momentum Accelerates

NZDJPY pared back most of its gains as the New Zealand dollar lost momentum. The downtrend seems to be leaning toward favorability if the 89 resistance holds.

 

Technicals

CMP-88.35 

Trend

4-hour chart

Value

 

 

55 EMA

89.05

CMP<value

Bearish

200- EMA

90.65

CMP <value

Bearish

365- EMA

91.56

CMP<value

Bearish

  1. EMA

92.08

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)

Bearish

-105

ADX

Bearish

Strength increased from 29.13 to  33.32

 It is good to sell on rallies around 89.18-20 an SL around 90 for a TP of 86.34.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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