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Bearish Undercurrents: NZDJPY Tests Resistance as Yen Weakness Fades

NZDJPY trades higher as yen loses momentum.  It reached an intraday high of 93.94 and is currently trading near 93.73. If the 94.40 resistance holds,  the downward trend seems to be going well.

 

Technicals

CMP -93.75

Trend

1- Hour chart

Value

 

 

55 EMA

93.51

CMP> value

Bullish

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

44.61

ADX

Neutral

 

 It is good to sell on rallies around 93.58-60  with SL around 94.40 for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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