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NZDJPY Under Pressure: Resistance at 93 Holds the Key to a Bearish Breakout

 

 

Ongoing geopolitical tensions cause NZDJPY to trade extremely erratically. It dropped to 92.25 during the day and is now trading around 92.92. The downward trend appears to be moving well if the resistance level of 93 stays stable.

 

Technicals

CMP -93.04

Trend

1- Hour chart

Value

 

 

55 EMA

92.78

CMP> value

Bullish

200- EMA

93.05

CMP <value

Bearish

365- EMA

93.12

CMP< value

Bearish

 Near-term resistance - 93/93.60/94.50/95/96. Near-term support- 92.70/91.80/91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bullish

52.59

ADX

Neutral

 

 It is good to sell on rallies around 93.18-20 with SL around 94 for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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