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FxWirePro- NZDJPY trade idea

NZDJPY was among the best performers this week and closed near the weekly high. It hit a high of 91.42 and is currently trading around 91.36. Technicals- The pair trades above 34- and 55 EMA in the hourly chart. The near…

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FxWirePro- NZDJPY trade idea
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NZDJPY  was among the best performers this week and closed near the weekly high. It hit a high of  91.42 and is currently trading around 91.36.

 

Technicals-

 

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

 

The near-term resistance is around 91.52, a breach above targets 92.02/92.80. The immediate support is at 91, any violation below will drag the pair to 90.56/90/89.

 

Indicator (8-hour chart)

 

CCI (14)-  Bullish

 

CCI (50)-  Bullish

 

Average directional movement Index- Bullish All indicators confirm a bullish trend.

 

It is good to buy on dips around 91.15-18 with SL around 90.49 for TP of 92.80.

 

 

 

 

 

 

 

 

 

 

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