NZDJPY trades weak for the third consecutive days. It hit a low of 88.62 and is currently trading around 88.97.
Technicals-
The pair is trading below 34- and 55 EMA in the 4-hour chart.
The near-term resistance is around 89.35, a breach above targets 89.78/90/90.14/90.80. The immediate support is at 88.60, any violation below will drag the pair to 88.25/88.
Indicator (4-hour chart)
CCI (14)- Bearish
CCI (50)- Bearish
Average directional movement Index- Bearish. All indicators confirm the bearish trend.
It is good to sell on rallies around 89.48-50 with SL around 90 for a TP of 88.
