NZD/JPY Sell-on-Rally Setup: Targeting 88.00 as Bearish EMAs Press Down

NZDJPY pared some of its gains after a minor pullback above the 90 level. The downtrend seems to be leaning toward a favorable outcome if the 90.80 resistance holds.

 

Technicals	CMP -90.191	Trend
4- Hour chart	Value
55 EMA	90.01	CMP<value	Bearish
200- EMA	91.75	CMP <value	Bearish
365- EMA	92.40	CMP<value	Bearish
EMA	92.51	CMP<Value	Bearish

 Near-term resistance - 90.80/91.25/91.80/92/92.30/93.20. Near-term support- 89/88

Momentum indicator	Inference	Value
CCI(50)	Bullish	59.84
ADX	Neutral

 It is good to sell on rallies around 90.28-30  an SL around 91, for a TP of 88.