NZDJPY gained slightly as the New Zealand dollar showed a minor pullback. As long as resistance 86.86 holds, the intraday trend is neutral. Having hit an intraday high of 86.70, it currently trades at roughly 86.663. The overall trend remains weak if the pair trades below 89.20.
Oscillators and moving averages to forecast the trend of NZDJPY
CMP- 86.72
EMA (15-min chart)
55-EMA- 86.50
200-EMA- 86.66
365-EMA- 86.86. The pair trades above the short-term moving average and below the long-term moving average.
Major support- 86.40. Any breach below will drag the pair down to 86/85.37.
Major resistance - 86.86. Any break above 86.86 confirms minor bullishness, a jump to 87.50/88.10/88.50/89.25.
Indicator (15 min chart)
CCI (50)- bullish
Average directional movement Index- Bullish.
All indicators confirm a bullish trend.
It is good to buy above 86.86 with SL around 86.40 for TP of 87.50/88.10.
