NZDJPY trades flat after hitting a multi-month high. The intraday trend is bullish as long as the support at 90 lasts. The pair reached a high of 90.89; it presently trades around 90.65.
Oscillators and moving averages to forecast the trend of NZDJPY
CMP- 90.659
EMA (4-hour chart)
55-EMA- 90.24
200-EMA- 89.61
365-EMA- 89.14. The pair trades above the short (55 EMA) and long-term moving average(200 and 365).
Major support- 90.60. Any breach below will drag the pair down to 90/89.30/88.70/88.40/87.99/87.20/86.65/85.37/85.
Major resistance - 91. Any break above 91 confirms minor bullishness, a jump to 91.39/92.
Indicator (1-hour chart)
CCI (50)- bullish
Average directional movement Index- Neutral. All indicators confirm a neutral trend.
It is good to buy on dips around 90 with SL around 89 for TP of 92.
