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NZDJPY: Downtrend Favors Sellers After Minor Pullback; Sell on Rallies Advised

NZDJPY showed a minor pull back after a massive sell-off. If the 90.60 resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals

CMP -89.91

Trend

1- Hour chart

Value

 

 

55 EMA

90.02

CMP<value

Bearish

200- EMA

91.52

CMP <value

Bearish

365- EMA

92.39

CMP<value

Bearish

  1. EMA

93.09

CMP<Value

Bearish

 Near-term resistance - 90.50/90.97/91.80/92/92.30/93.20. Near-term support- 89.50/89/88

Momentum indicator

Inference

Value

CCI(50)

Neutral

 

ADX

Neutral

 

 It is good to sell on rallies around  90.18-20 with an SL around 91, for a TP of 88.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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