NZDJPY trades flat with neutral bias. Intraday trend remains neutral as long as long as trendline resistance 87.30 holds. It hit an intraday high of 86.90 and is currently trading around 86.85. The overall bearish trend is intact as long as the resistance at 89.20 holds.
Technicals-
The pair is trading below 55 EMA, 200-EMA, and 365 EMA in the 4-hour chart.
The near-term resistance is around 87.30, breach above targets 87.70/88/89.05. The immediate support is at 86.80; any violation below will drag the pair to 86.50/86/85.50/85.10/84.06.
Indicator (4-hour chart)
CCI (50)- Bearish
Average directional movement Index- neutral. All indicators confirm a neutral trend.
It is good to buy above 87.30 with SL around 86.75 for TP of 89.20/90.
