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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

  1. 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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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