FxWirePro- NZDJPY trade idea

NZDJPY surged sharply on the strong New Zealand dollar. It hit a high of  91 and is currently trading around 90.99.

The New Zealand dollar gained momentum after upbeat business confidence. It rose to a decade-high 50 in August.

Technicals-

The pair trades above 34- and 55 EMA in the hourly chart.

The near-term resistance is around 91, a breach above targets 91.52/91.80. The immediate support is at 90.54, any violation below will drag the pair to 90.05/89.80/89.50.

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 90.70-75 with SL around 90.45 for a TP of 91.80.