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NZDJPY Bulls Reload: Why 93.50 Is the Line in the Sand for a Run to 97

NZDJPY is consolidating after a minor sell-off. After hitting an intraday low of 93.56, it is currently trading at about 93.93. Should the 93 support hold, the upward trend appears to be moving favorably.

 

Technicals

CMP -93.93

Trend

4- Hour chart

Value

 

 

55 EMA

94.08

CMP<value

Bearish

200- EMA

93.57

CMP >value

Bullish

365- EMA

93.20

CMP>value

Bullish

 Near-term resistance - 94.40/95/95.50/96.15/96.85/97.25. Near-term support- 93.70/93/92.40/91.80/91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-49

ADX

Neutral

 

 It is good to buy on dips around 93.50 with SL around 92.80 for a TP of 96.15/97.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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