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NZDJPY: Caught Between a Rock and a Hard Place – Will the Downtrend Prevail?

NZDJPY  is consolidating in a narrow range between 92.47 and 91.56. If the 92.70 resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals

CMP -92.275

Trend

4- Hour chart

Value

 

 

55 EMA

92

CMP>value

Bullish

200- EMA

92.65

CMP <value

Bearish

365- EMA

92.79

CMP<value

Bearish

 Near-term resistance - 92.70/93.25/93.62/94/94.40/95/95.50. Near-term support-  91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bullish

73.18

ADX

Neutral

 

 It is good to sell on rallies around 92.48-50 with an SL around 93, for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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