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NZDJPY: Sell the Rallies — Bearish EMAs Stack Up as Yen Sellers Eye a Slide to 87

NZDJPY has traded in a narrow range between 90.54 and 88.68 for the past week.The downtrend seems to be leaning toward favorability if the 90.80 resistance holds.

 

Technicals

CMP 88.96

Trend

4- Hour chart

Value

 

 

55 EMA

89.65

CMP<value

Bearish

200- EMA

91.18

CMP <value

Bearish

365- EMA

91.97

CMP<value

Bearish

  1. EMA

92.30

CMP<Value

Bearish

 Near-term resistance - 89.60/90/90.80/91.25/91.80/92/92.30/93.20. Near-term support: 88.45/88/87.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-140.64

ADX

Bearish

Strength increased from 22.05 to 23.29

 It is good to sell on rallies around 89.60-65, with an SL around 90.60, for a TP of 87.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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