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NZDJPY Faces Downward Pressure as 95.40 Resistance Holds Firm

NZDJPY pared some of  its gains as New Zealand dollar loses momentum.If the 95.40 resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals

CMP -94.42

Trend

1- Hour chart

Value

 

 

55 EMA

94.75

CMP<value

Bearish

200- EMA

94.60

CMP <value

Bearish

365- EMA

94.35

CMP>value

Bullish

  1. EMA

94

CMP>Value

Bullish

 Near-term resistance - 95.20/95.50/96.25/97. Near-term support- 94.20/93.70/93.30/93/ 92.60/92/ 91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-165

ADX

Bearish

Strength increased from 29.23 to 32

 It is good to buy on dips around 94.20 with an SL around 93.30, for a TP of 97.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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