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NZDJPY Technical Outlook: Selling the Rallies as Bearish Momentum Consolidates

 

NZDJPY is consolidating in a narrow range after a massive sell-off.  It reached an intraday high of 93.56 and is currently trading near 93.34. If the 94.40 resistance  level stays steady, the downward  trend seems to be going well.

 

Technicals

CMP -93.34

Trend

1- Hour chart

Value

 

 

55 EMA

93.12

CMP< value

Bearish

200- EMA

93.02

CMP <value

Bearish

365- EMA

92.71

CMP< value

Bearish

 Near-term resistance - 93.60/94.50/95/96. Near-term support- 92.70/91.80/91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bullish

19.34

ADX

Neutral

 

 It is good to sell on rallies around 93.38-40 with SL around 94 for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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