NZDJPY Consolidates, Resistance at 90.78 May Signal Favorability for Downtrend

NZDJPY is consolidating after a massive sell-off. If the 90.78 resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals	CMP -89.89	Trend
4- Hour chart	Value
55 EMA	89.83	CMP>value	Bullish
200- EMA	91.16	CMP <value	Bearish
365- EMA	92.09	CMP<value	Bearish
EMA	92.90	CMP<Value	Bearish

 Near-term resistance - 90.50/90.97/91.80/92/92.30/93.20. Near-term support- 89.50/89/88

Momentum indicator	Inference	Value
CCI(50)	Bearish	120.45
ADX	Bearish	Strength increased from 20.38 to 22.87

 It is good to sell on rallies around  90.18-20 with an SL around 91, for a TP of 88.