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NZDJPY: Bearish Bias Below 90 — Sell Rallies Toward 86.40

NZDJPY is consolidating in a narrow range between 89.08 and 88.11 in past five days. The downtrend seems to be leaning toward favorability if the 90 resistance holds.

Technicals

CMP-88.51

Trend

1- Hour chart

Value

 

 

55 EMA

88.60

CMP<value

Bearish

200- EMA

88.79

CMP <value

Bearish

365- EMA

89.19

CMP<value

Bearish

  1. EMA

90.31

CMP<Value

Bearish

 Near-term resistance - 89/89.60/90/90.80/91.25/91.80/92/92.30/93.20. Near-term support- 88/87/86.34.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-78.42

ADX

Neutral

 

 It is good to sell on rallies around 88.68- 70, with an SL around 89.20 for a TP of 86.40.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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