NZDJPY Breaks Lower: Bearish Bias Strengthens as Trendline Support Crumbles

NZDJPY breaks trend line support after long consolidation. As long as resistance at 91.50 persists, the intraday trend is bearish. The pair reached an intraday low of 90.27; it currently trades at around 90.317.

Oscillators and moving averages to forecast the trend of NZDJPY

CMP- 90.58

EMA (4-hour chart)

55-EMA- 90.57

200-EMA- 89.58

365-EMA- 88.86. The pair trades below the short (55 EMA)  and long-term moving average(200 and 365).

Major support- 90.25. Any breach below will drag the pair down to 90/89.70/89.20/88.70/88.40/87.99.

Major resistance - 90.85. Any break above 90.85 confirms minor bullishness, a jump to 91.50/92/93.

Indicator (4- hour chart)

CCI (50)- bearish

Average directional movement Index-  Neutral. All indicators confirm a mixed trend.

It is good to sell on rallies around 90.58-60 with SL around 91.50 for the TP of 89.20/88.70..