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NZD/JPY Triple-Top Rejection Sparks Pullback—Bulls Circle 93.50 Dip to Reload for 95 Assault

 

Around 94.30, triple top formed for NZDJPY and dropped more than 50 pip. It is now trading near 93.87 after reaching an intraday high of 94.29. The upward trend seems to be going well if the 92.48 support holds.

 

Technicals

CMP -93.87

Trend

1- Hour chart

Value

 

 

55 EMA

93.60

CMP>value

Bullish

200- EMA

93.33

CMP >value

Bullish

365- EMA

93.28

CMP>value

Bullish

 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)

Bullish

58.78

ADX

Neutral

 

 It is good to buy on dips around 93.48-50 with SL around 92.78 for a TP of 95.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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