NZDJPY Breaks Out: Bullish Momentum Ignites Above 91.78 Barrier

NZDJPY breaks significant resistance at 91.78 after a long consolidation. As long as support 91 holds, the intraday trend is upward. The pair topped highs of 91.79 yesterday; it presently trades around 91.49.

Oscillators and moving averages to forecast the trend of NZDJPY

CMP- 92.42

EMA (1-hour chart)

55-EMA- 91.47

200-EMA- 91.08

365-EMA- 90.86. The pair trades above the short (55 EMA)  and above long-term moving average(200 and 365).

Major support- 92. Any breach below will drag the pair down to 91.74/91.28/90.85/90.45/89.70/89.20/88.70/88.40/87.99.

Major resistance - 92.50. Any break above 92.50 confirms minor bullishness, a jump to 93/93.67/95.

Indicator (4- hour chart)

CCI (50)- bullish

Average directional movement Index-  Bullish. All indicators confirm a bullish  trend.

It is good to buy on dips around 92.18-20  with SL around 91.40 for the TP of 93.67/94/95.