The NZDJPY pair started to lose its luster when demand for safe-haven assets grew and the yen gained ground. The short-term trend seems to be negative as long as the 93 resistance level holds. Earlier, the couple hit a low of 91.51; it is now trading at about 92.15.
Oscillators and moving averages to forecast the trend of NZDJPY
CMP- 92.13
EMA (15-min chart)
55-EMA- 92.09
200-EMA- 92.42
365-EMA- 92.35. The pair trades above the short (55 EMA) and below long-term moving average(200 and 365).
Major support- 91.50. Any breach below will drag the pair down to 90.85/90.45/89.70/89.20/88.70/88.40/87.99.
Major resistance - 92.50. Any break above 92.50 confirms minor bullishness, a jump to 93/94/95/96.
Indicator (15-min chart)
CCI (50)- bullish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to sell on rallies around 92.48-50 with SL around 93 for the TP of 90.
