NZDJPY Bulls Regain Control: Buy-the-Dip Setup Above Key 90 Support

Following a little drop below the 365 4H EMA, NZDJPY rebounded quickly. The intraday trend is up as long as support 90 lasts. The pair falls to 90.62; now trades around 91.23.

Oscillators and moving averages to forecast the trend of NZDJPY

CMP- 91.23

EMA (4-hour chart)

55-EMA- 90.91

200-EMA- 90.07

365-EMA- 89.51. The pair trades above the short (55 EMA)  and above the long-term moving average(200 and 365).

Major support- 90.45. Any breach below will drag the pair down to 89.70/89.20/88.70/88.40/87.99.

Major resistance - 91.50. Any break above 91.50 confirms minor bullishness, a jump to 91.80/92/93/93.67/95.

Indicator (4- hour chart)

CCI (50)- bullish

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

It is good to buy on dips around 91.10 with SL around 90.45 for the TP of 92/92.25/93.