Bearish Outlook for NZDJPY as Momentum Falters Post-RBNZ Hike

NZDJPY declined sharply as the New Zealand dollar lost momentum after the RBNZ rate hike. If the 93.60 resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals	CMP -92.07	Trend
4-hour chart	Value
55 EMA	94.15	CMP<value	Bearish
200- EMA	94.02	CMP <value	Bearish
365- EMA	93.72	CMP<value	Bullish
EMA	93.06	CMP>Value	Bullish

 Near-term resistance - 92.50/93.20/93.80/94.40//95.50/96.25/97. Near-term support- 92.60/92/ 91/90.50/89.

Momentum indicator	Inference	Value
CCI(50)	Bearish	-280.63
ADX	Bearish	Strength increased from 15.41 to 34

 It is good to sell on rallies around  92.48-50 with an SL around 93.20, for a TP of 90.