NZDJPY Consolidates: A Buying Opportunity Emerges as Resistance Holds Firm

NZDJPY trades flat after three weeks of bullish trend. If the 94.40  resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals	CMP -94.83	Trend
4- Hour chart	Value
55 EMA	94.09	CMP<value	Bearish
200- EMA	93.71	CMP <value	Bearish
365- EMA	93.51	CMP>value	Bullish
EMA	92.88	CMP>Value	Bullish

 Near-term resistance - 95.20/95.50/96.25/97. Near-term support- 94.20/93.70/93.30/93/ 92.60/92/ 91/90.50/89.

Momentum indicator	Inference	Value
CCI(50)	Bullish	126.14
ADX	Neutral

 It is good to buy on dips around 94.20 with an SL around 93.30, for a TP of 97.