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Double Bottom Recovery: NZDJPY Bulls Eye 94.18 as Geopolitical Tensions Ease

 

 

NZDJPY made a double bottom close to 92 and had a good bounce back as geopolitical tensions eased. With a current price of 92.90, it approached its intraday low of 92.12. If the 91.80 support stays, the trend during the day is up.

Technicals

CMP -93.21

Trend

1- Hour chart

Value

 

 

55 EMA

92.75

CMP< value

Bullish

200- EMA

93.01

CMP <value

Bearish

365- EMA

93.06

CMP< value

Bearish

 

Momentum indicator

Inference

Value

CCI(50)

Neutral

0.48

ADX

Bullish

Strength increased from 16 to 17.65

 

It is good to buy on dips around 92.48-50  with SL around 91.80 for a TP of 94.18.

 

 

 

 

 

 

 

 

 

 

 

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