NZDJPY has been consolidating in a narrow range between 92.27 and 89.13 for the past week. It hit a low of 89.13 and is currently trading around 90.06.
Technicals-
The pair trades above 34- and 55 EMA in the hourly chart.
The near-term resistance is around 90.30, a breach above targets 90.82/91.80. The immediate support is at 89.50, any violation below will drag the pair to 89.10/88.40.
Indicator (hourly chart)
CCI (14)- Bullish (above 100)
CCI (50)- Bullish (above 100)
Average directional movement Index - Bullish. All indicators confirm a bullish trend.
It is good to buy on dips around 89.95-97 with SL around 89.50 for a TP of 91.80.
