NZDJPY Faces Downtrend: Key Resistance at 93.60 to Watch

NZDJPY  lost its shine after the second consecutive rate hike of  25 bpbs by the RBNZ. If the 94.40 resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals	CMP -92.93	Trend
4-hour chart	Value
55 EMA	94.42	CMP<value	Bearish
200- EMA	94.02	CMP >value	Bullish
365- EMA	93.74	CMP>value	Bullish
EMA	93.05	CMP>Value	Bullish

 Near-term resistance - 93.50/94.40//95.50/96.25/97. Near-term support- 92.60/92/ 91/90.50/89.

Momentum indicator	Inference	Value
CCI(50)	Bearish	-478
ADX	Bearish	Strength increased from 11.69 to 18.18

 It is good to sell on rallies around  93.18-20 with an SL around 94.40, for a TP of 90.