NZDJPY Faces Resistance: Sell on Rallies as Downtrend Favors Bears

NZDJPY is consolidating in a narrow range  after a massive sell-off. The downtrend seems to be leaning toward favorability if the 90.50 resistance holds.

Technicals	CMP -89.12	Trend
1- Hour chart	Value
55 EMA	89.29	CMP<value	Bearish
200- EMA	90.19	CMP <value	Bearish
365- EMA	91.17	CMP<value	Bearish
EMA	92.31	CMP<Value	Bearish

 Near-term resistance - 90/90.50/90.97/91.80/92/92.30/93.20. Near-term support- 89/88

Momentum indicator	Inference	Value
CCI(50)	Bullish
ADX	Neutral

 It is good to sell on rallies around  90.18-20 with an SL around 91, for a TP of 88.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CU