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
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.