NZDJPY has been consolidating in a narrow range between 85.99 and 86.46 for the past two days. Intraday trend remains bearish as long as the resistance at 86.80 holds. It hit an intraday high of 86.46 and is currently trading around 86.25. The overall bearish trend is intact as long as the resistance at 89.20 holds.
Technicals-
The pair is trading below 34- and 55 EMA, 200-EMA,365 EMA in the one-hour chart.
The near-term resistance is around 86.50, breach above targets 86.81/87.70. The immediate support is at 86; any violation below will drag the pair to 85.50/85.10/84.06.
Indicator (1-hour chart)
CCI (50)- Bearish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to sell on rallies around 86.38-40 with SL around 87 for TP of 84.


FxWirePro: USD/ZAR bears maintain upper hand
FxWirePro: USD/CNY dips as dollar weakens on US-Iran escalation
AUD/JPY Faces Downside Pressure Amidst Australian Dollar Weakness
FxWirePro:EUR/NZD gains some ground but outlook is bearish
FxWirePro: USD/CAD rises above 1.3900 level after Warsh's Jackson hole speech
Bitcoin Dips Before the Flip: Whales Load Up $3B as $80K Rebound Looms
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/JPY hovers near 160, outlook bullish
FxWirePro: GBP/USD cedes early gains ,outlook bearish
FxWirePro: EUR/NZD neutral in the near term, scope for downward resumption
NZDJPY Faces Downward Pressure as 95.40 Resistance Holds Firm
FxWirePro- Woodies Pivot (Major)
FxWirePro: USD/JPY dips as Yen firms on BOJ rate-hike bets
FxWirePro: GBP/NZD uptrend loses steam, remains on bearish path
FxWirePro: EUR/ AUD gains slightly but remains on bearish path
AUD/JPY: Bullish Momentum Continues in JPY Major Pairs 



