After the US abandoned the Greenland tariff, NZDJPY surged. The intraday trend is up as long as support 92 is maintained. At the time of writing, the pair topped highs of 93.01; it currently trades at 92.97.
Oscillators and moving averages to forecast the trend of NZDJPY
CMP- 92.979
EMA (4-hour chart)
55-EMA- 91.53
200-EMA- 90.54
365-EMA- 89.76. The pair trades above the short (55 EMA) and above long-term moving average(200 and 365).
Major support- 92.35. Any breach below will drag the pair down to 92/91.35/90.85/90.45/89.70/89.20/88.70/88.40/87.99.
Major resistance - 93.10. Any break above 93.10 confirms minor bullishness, a jump to 93.67/94/95.
Indicator (4- hour chart)
CCI (50)- bullish
Average directional movement Index- Bullish. All indicators confirm a bullish trend.
It is good to buy on dips around 92.38-40 with SL around 91.55 for the TP of 94/95.
