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NZD/JPY: Triple EMA “Sell-the-Rally” Setup Targets 90 as Bearish ADX Strength Doubles

 

 

 

 

NZDJPY trades flat with negative bias. It reached an intraday low of 92.49 and is currently trading near 92.80. If the 94.40 resistance holds,  the downward   trend seems to be going well.

 

Technicals

CMP -93.02

Trend

1- Hour chart

Value

 

 

55 EMA

93.24

CMP<value

Bearish

200- EMA

93.21

CMP <value

Bearish

365- EMA

93.22

CMP<value

Bearish

 Near-term resistance - 94/94.50/95/96. Near-term support- 92.45/91.80/91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-225.15

ADX

Bearish

Strength increased from 9 to 21

 It is good to sell on rallies around 93.48-50, with an SL around 94.40, for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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