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Yen Volatility: NZDJPY Navigates Geopolitical Headwinds Amidst a "Buy on Dips" Setup

As the yen weakens on re-escalation of US-Iran tensions, NZDJPY showed a small retreat. It dropped to 92.96 and is now trading around 93.31. The upward trend seems to be going well, provided the support level of 91.80 remains strong.

 

Technicals

CMP -93.28

Trend

1- Hour chart

Value

 

 

55 EMA

93.56

CMP<value

Bearish

200- EMA

93.19

CMP >value

Bullish

365- EMA

92.85

CMP>value

Bullish

 Near-term resistance - 91.50/92.01/92.75/93. Near-term support- 91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-78.62

ADX

Neutral

 

 It is good to buy on dips around 93 with SL around 92 for a TP of 95/96.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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