FxWirePro: NZD/JPY gaining momentum for a move towards 91.00 level

• NZD/JPY gained strength  on Tuesday as increased risk sentiment , higher commodities price and China's   stimulus measures  boosted kiwi dollar     .

• Iron ore futures recovered on Tuesday, driven by a wave of new monetary stimulus from China  which boosted market sentiment.

• China's top financial regulators announced a series of measures, including a 50 basis point cut in bank reserves and reductions in mortgage rates, aimed at stimulating sluggish economic growth.
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• At (GMT 06:09) Kiwi dollar was trading at up  0.35 % at 98. 54 against the Yen 

•  The technical outlook remains bullish and points to eventual bigger gains, Fourteen-day momentum is positive, reinforcing the scope for a bigger gains  .
 
•  Immediate resistance is located at 90.66(23.6%fib), any close above will push the pair towards 91.17 (Aug 29th high).

•  Support is seen at 89.85 (Daily low) and break below could take the pair towards 88.16(38.2%fib).

 Recommendation: Good to buy around 90.30 with stop loss of 89.40 and target price of 91.00