NZDJPY Faces Headwinds: Momentum Fades as Traders Eye Key Resistance

NZDJPY pared some of its gains as New Zealand dollar loses momentum. If the 94.40  resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals	CMP -94.84	Trend
4- Hour chart	Value
55 EMA	93.84	CMP<value	Bearish
200- EMA	93.62	CMP <value	Bearish
365- EMA	93.46	CMP>value	Bullish
EMA	92.84	CMP>Value	Bullish

 Near-term resistance - 95/95.50/96.25/97. Near-term support- 94.20/93.70/93.30/93/ 92.60/92/ 91/90.50/89.

Momentum indicator	Inference	Value
CCI(50)	Bullish	219
ADX	Bullish	Strength increased from 14.34 to 18.89

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