NZDJPY Breaks 94: Bulls Charge as Kiwi Roars Back

As New Zealand swiftly recovered, NZDJPY rose above the 94 level. As long as support 92.50 holds, The intraday trend is good. Earlier, the couple leapt to 93.88; now it is trading at around 93.278.

Oscillators and moving averages to forecast the trend of NZDJPY

CMP- 94.12

EMA (1-hour chart)

55-EMA- 93.30

200-EMA- 92.75

365-EMA- 92.30. The pair trades above the short (55 EMA)  and long-term moving average 200 and above 365).

Major support- 93.65. Any breach below will drag the pair down to 93.30/93/92.50/92/91.40/90.85/90.45/89.70.

Major resistance - 94.20. Any break above 94.20 confirms minor bullishness, a jump to 95/96.

Indicator (1- hour chart)

CCI (50)- bullish

Average directional movement Index-  Bullish. All indicators confirm a bullish trend.

It is good to buy on dips around 93.48-50 with SL around 92.50 for the TP of 96.