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NZDJPY Bullish on Yen Weakness; Buy on Dips Strategy Recommended

Board-based Yen depreciation helped NZDJPY recover quickly. It peaked at 92.47 yesterday and now sits around 92.348. If the 91 support holds, the uptrend appears to be improving.

Technicals

CMP -92.35

Trend

1- Hour chart

Value

 

 

55 EMA

91.85

CMP>value

Bullish

200- EMA

91.91

CMP >value

Bullish

365- EMA

92.28

CMP>value

Bullish

 Near-term resistance - 2.70/93.25/93.62/94/94.40/95/95.50. Near-term support-  91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bullish

106.77

ADX

Neutral

 

 It is good to buy on dips around 92 with SL around  91.40 for a TP of 94.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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