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NZD/JPY Technical Analysis: Sell-on-Rallies Strategy Eyed Below 90.80 Resistance

NZDJPY gained more than 60 pips from the minor bottom at 88.22 on board-based yen selling. The downtrend seems to be leaning toward favorability if the 90.80 resistance holds.

Technicals

CMP-88.89 

Trend

4- Hour chart

Value

 

 

55 EMA

88.84

CMP<value

Bearish

200- EMA

89.29

CMP <value

Bearish

365- EMA

89.77

CMP<value

Bearish

  1. EMA

90.92

CMP<Value

Bearish

 Near-term resistance - 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

61.29

ADX

Neutral

 

 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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