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Board-based New Zealand dollar selling helped NZDJPY to erase most of its gains. Having dropped to 92.56 during the day, it is now around 93.08. If the 94.20 resistance holds, the downtrend looks to be trending toward favorability.
|
Technicals |
CMP -93.08 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
93.49 |
CMP<value |
Bearish |
|
200- EMA |
93.91 |
CMP <value |
Bearish |
|
365- EMA |
93.81 |
CMP<value |
Bearish |
Near-term resistance - 93.60/94/94.40/95/95.50/96.15/96.85/97.25. Near-term support- 92.40/91.80/91/90.50/89.
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
Bearish |
-89 |
|
ADX |
Neutral |
|
It is good to sell on rallies around 93.48-50 with SL around 95 for a TP of 90.50/90.
