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NZDJPY Faces Resistance: Sell on Rallies as Downtrend Favors Bears

NZDJPY is consolidating in a narrow range  after a massive sell-off. The downtrend seems to be leaning toward favorability if the 90.50 resistance holds.

Technicals

CMP -89.12

Trend

1- Hour chart

Value

 

 

55 EMA

89.29

CMP<value

Bearish

200- EMA

90.19

CMP <value

Bearish

365- EMA

91.17

CMP<value

Bearish

  1. EMA

92.31

CMP<Value

Bearish

 Near-term resistance - 90/90.50/90.97/91.80/92/92.30/93.20. Near-term support- 89/88

Momentum indicator

Inference

Value

CCI(50)

Bullish

 

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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