NZD/JPY Technical Analysis: Kiwi Pares Gains Below 89 Resistance as Bearish Momentum Accelerates

NZDJPY pared back most of its gains as the New Zealand dollar lost momentum. The downtrend seems to be leaning toward favorability if the 89 resistance holds.

 

Technicals	CMP-88.35	Trend
4-hour chart	Value
55 EMA	89.05	CMP<value	Bearish
200- EMA	90.65	CMP <value	Bearish
365- EMA	91.56	CMP<value	Bearish
EMA	92.08	CMP<Value	Bearish

 Near-term resistance - 89/89.60/90/90.80/91.25/91.80/92/92.30/93.20. Near-term support- 88/87/86.34.

Momentum indicator	Inference	Value
CCI(50)	Bearish	-105
ADX	Bearish	Strength increased from 29.13 to  33.32

 It is good to sell on rallies around 89.18-20 an SL around 90 for a TP of 86.34.