NZDJPY lost some of its gains as the yen gathered speed. The intraday trend is bearish as long as opposition at 91.50 continues. The couple reached an intraday low of 90.383; it currently trades at roughly 90.391.
Oscillators and moving averages to forecast the trend of NZDJPY
CMP- 90.38
EMA (4-hour chart)
55-EMA- 90.52
200-EMA- 89.75
365-EMA- 89.04. The pair trades below the short (55 EMA) and long-term moving average(200 and 365).
Major support- 90. Any breach below will drag the pair down to 90/89.70/89.20/88.70/88.40/87.99.
Major resistance - 90.85. Any break above 90.85 confirms minor bullishness, a jump to 91.50/92/93.
Indicator (4- hour chart)
CCI (50)- bearish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to sell on rallies around 91 with SL around 91.50 for the TP of 89.20.
