NZDJPY trades flat with positive bias. As long as support at 88.70 persists, the intraday trend is bullish. The pair hit an high of 89.75; it currently trades at about 89.377.
Oscillators and moving averages to forecast the trend of NZDJPY
CMP- 89.378
EMA (4-hour chart)
55-EMA- 89
200-EMA- 88.11
365-EMA- 87.74. The pair trades above the short (55 EMA) and long-term moving average(200 and 365).
Major support- 88.70. Any breach below will drag the pair down to 88.40/87.99/87.20/86.65/85.37/84.45/84.
Major resistance - 89.75. Any break above 89.75 confirms minor bullishness, a jump to 90/90.65/92.
Indicator (4-hour chart)
CCI (50)- bullish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to buy on dips around 89 with SL around 88.70 for TP of 90/90.65.


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