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NZDJPY Bearish Reversal Intact: Triple EMA Stack Signals Sell-on-Rallies Play Toward 90.50

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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