Flat trading for NZDJPY as most of the markets close for Boxing Day. As long as resistance at 91.50 persists, the intraday trend is neutral. The pair reached an intraday high of 91.32; it currently trades at around 91.06.
Oscillators and moving averages to forecast the trend of NZDJPY
CMP- 91.05
EMA (4-hour chart)
55-EMA- 90.49
200-EMA- 89.39
365-EMA- 88.70. The pair trades above the short (55 EMA) and long-term moving average(200 and 365).
Major support- 90.45. Any breach below will drag the pair down to 90/89.70/89.20/88.70/88.40/87.99.
Major resistance - 91.50. Any break above 91.50 confirms minor bullishness, a jump to 92/93.
Indicator (4-hour chart)
CCI (50)- bullish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to stay away .
