NZD/JPY Technical Analysis: Sell-on-Rallies Strategy Eyed Below 90.80 Resistance

NZDJPY gained more than 60 pips from the minor bottom at 88.22 on board-based yen selling. The downtrend seems to be leaning toward favorability if the 90.80 resistance holds.

Technicals	CMP-88.89	Trend
4- Hour chart	Value
55 EMA	88.84	CMP<value	Bearish
200- EMA	89.29	CMP <value	Bearish
365- EMA	89.77	CMP<value	Bearish
EMA	90.92	CMP<Value	Bearish

 Near-term resistance - 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)	Bullish	61.29
ADX	Neutral

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