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NZDJPY Pullback: Bearish Trend Favors Sellers Below 92.50 Resistance

NZDJPY lost its shine after a minor pullback.It peaked at 92.44 yesterday and now sits around 91.75. If the 92.50 resistance  holds, the downtrend appears to be trending toward favorability.

 

Technicals

CMP -91.90

Trend

1- Hour chart

Value

 

 

55 EMA

92.08

CMP<value

Bearish

200- EMA

91.98

CMP <value

Bearish

365- EMA

92.28

CMP<value

Bearish

 Near-term resistance - 92.70/93.25/93.62/94/94.40/95/95.50. Near-term support-  91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-129.49

ADX

Bearish

Strength increased from 17.93 to 2.73

 It is good to sell on rallies around 92, with an SL around 93, for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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