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NZDJPY Bearish Breakdown: Why Selling the Rallies is the Strategic Play

The NZDJPY has traded in a limited range over the last month between 94.18 and 90.67. It fell to 90.67 and is currently trading about 90.986. The trend is currently downward if the 92 resistance holds.

Technicals

CMP -90.98

Trend

1- Hour chart

Value

 

 

55 EMA

91.07

CMP<value

Bearish

200- EMA

91.55

CMP <value

Bearish

365- EMA

91.96

CMP< value

Bearish

 Near-term resistance - 91.50/92.01/92.75/93. Near-term support- 91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-63.33

ADX

Neutral

 

 It is good to sell on rallies around 91.50 with SL around 92.20 for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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