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NZDJPY: Potential Downtrend Ahead if Resistance Holds, Sell on Rallies Advised

NZDJPY pared back some gains after a minor pullback. The downtrend seems more favorable if the 90.50 resistance holds.

 

Technicals

CMP -89.72

Trend

1- Hour chart

Value

 

 

55 EMA

89.98

CMP<value

Bearish

200- EMA

91.88

CMP <value

Bearish

365- EMA

92.49

CMP<value

Bearish

  1. EMA

92.55

CMP<Value

Bearish

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

Momentum indicator

Inference

Value

CCI(50)

Bullish

59.84

ADX

Neutral

 

 It is good to sell on rallies around 90.28-30  an SL around 91, for a TP of 88.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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