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NZDJPY Faces Downtrend: Key Resistance at 93.60 to Watch

NZDJPY  lost its shine after the second consecutive rate hike of  25 bpbs by the RBNZ. If the 94.40 resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals

CMP -92.93

Trend

4-hour chart

Value

 

 

55 EMA

94.42

CMP<value

Bearish

200- EMA

94.02

CMP >value

Bullish

365- EMA

93.74

CMP>value

Bullish

  1. EMA

93.05

CMP>Value

Bullish

 Near-term resistance - 93.50/94.40//95.50/96.25/97. Near-term support- 92.60/92/ 91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-478

ADX

Bearish

Strength increased from 11.69 to 18.18

 It is good to sell on rallies around  93.18-20 with an SL around 94.40, for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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