NZDJPY: Downtrend Favors Sellers After Minor Pullback; Sell on Rallies Advised

NZDJPY showed a minor pull back after a massive sell-off. If the 90.60 resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals	CMP -89.91	Trend
1- Hour chart	Value
55 EMA	90.02	CMP<value	Bearish
200- EMA	91.52	CMP <value	Bearish
365- EMA	92.39	CMP<value	Bearish
EMA	93.09	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)	Neutral
ADX	Neutral

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