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NZDJPY Catches Its Breath: Bulls Defend 94 Floor With Sights Set on 96–97

Following a significant increase last week, NZDJPY is narrowing in a small range. After hitting an intraday low of 94.64, it is currently trading at about 94.78. Should the 94 support hold, the upward trend appears to be moving favorably.

 

Technicals

CMP -94.78

Trend

4- Hour chart

Value

 

 

55 EMA

94.14

CMP>value

Bullish

200- EMA

93.50

CMP >value

Bullish

365- EMA

93.14

CMP>value

Bullish

 Near-term resistance - 96.15/96.85/97.25/98. Near-term support- 94.40/93.80/93/92.40/91.80/91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bullish

70.17

ADX

Neutral

 

 It is good to buy on dips around 94.40 with SL around 93.50 for a TP of 96.15/97.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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