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NZDJPY: Sell the Rallies as Bears Guard 92 and Range Trade Persists 
- USD/ZAR is currently trading around 12.92 levels.
- It made intraday high at 13.09 and low at 12.89 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 13.15 marks.
- A daily close above 13.02 will take the parity higher towards key resistances around 13.15, 13.33, 13.50, 13.59, 13.65, 13.77, 13.85, 13.96, 14.16, 14.29, 14.50, 14.75, 14.96, 15.05, 15.28 and 15.45 marks respectively.
- Alternatively, a daily close below 13.02 will drag the parity down towards key supports at 12.70, 12.48, 12.30, 12.22 and 12.14 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/ZAR around 12.95, stop loss at 13.15 and target of 12.70.
