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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

  1. 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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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