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NZDJPY Bearish Blueprint: Selling the Rallies as Resistance Holds Firm 
NZDJPY pared some of its gains on board-based New Zealand dollar selling. It reached an intraday low of 92.49 and is currently trading near 92.80. If the 94.40 resistance holds, the downward trend seems to be going well.
|
Technicals |
CMP -92.78 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
92.91 |
CMP<value |
Bearish |
|
200- EMA |
93.15 |
CMP <value |
Bearish |
|
365- EMA |
93.20 |
CMP<value |
Bearish |
Near-term resistance - 94/94.50/95/96. Near-term support- 92.45/91.80/91/90.50/89.
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
Bearish |
-80.87 |
|
ADX |
Neutral |
|
It is good to sell on rallies around 93.58-60 with SL around 94.40 for a TP of 90.
