NZD/JPY: Bullish Dips Amid Bearish Signals – Can Support at 92.85 Ignite a Rally to 96?

NZDJPY took support near 365 H EMA and showed a minor pullback.Intraday trend is positive as long as support 92.85 holds. The couple hits an intraday high of  and is now trading around 93.92.

Oscillators and moving averages to forecast the trend of NZDJPY

CMP- 93.52

EMA (1-hour chart)

55-EMA- 93.79

200-EMA- 92.82

365-EMA- 93.35. The pair trades below the short (55 EMA)  and above the long-term moving average 200 and above 365).

Major support- 92.85. Any breach below 92.85 will drag the pair down to 92.50/92/91.40/90.85/90.45/89.70.

Major resistance - 93.70. Any break above 93.70 confirms minor bullishness, a jump to 94.20/95/96.

Indicator (1- hour chart)

CCI (50)- bearish

Average directional movement Index-  Neutral. All indicators confirm a neutral trend.

It is good to buy on dips around 93.48-50 with SL around 92.50 for the TP of 96.