NZDJPY gained slightly on board based yen weakness. Intraday trend remains bearish as long as the resistance at 87.40 holds. Hitting an intraday high of 86.96, it presently trades at about 86.89. As long as the resistance at 89.20 remains intact, the general bearish trend is still valid.
Technicals-
The pair is trading above the 55 EMA, below the 200 EMA, and below the 365 EMA in the 15-minute chart.
The near-term resistance is around 87.20, breach above targets 87.40/89.20/90. The immediate support is at 86.50 any violation below will drag the pair to 86/85.50/85.10/84.06.
Indicator (15-min chart)
CCI (50)- Bullish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to sell on rallies around 87 with SL around 87.40 for TP of 85.
