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NZD/JPY Bear Trap: Triple EMA Ceiling Blocks Relief Rally, Sellers Eye 90.50

Eased Middle East worry helped NZDJPY exhibit a little retreat. Yesterday at 92.56, it is currently approximately 93.36. The downtrend seems to be leaning toward favorability if the 94.20 resistance holds.

Technicals

CMP -93.43

Trend

4- Hour chart

Value

 

 

55 EMA

93.77

CMP<value

Bearish

200- EMA

93.53

CMP <value

Bearish

365- EMA

93.21

CMP<value

Bearish

 Near-term resistance - 93.60/94/94.40/95/95.50/96.15/96.85/97.25. Near-term support- 92.40/91.80/91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-76.90

ADX

Neutral

 

 It is good to sell on rallies around  93.48-50 with SL around 95 for a TP of 90.50/90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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