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NZDJPY Narrow Range, Bullish Tilt: Dip-Buy Ahead of 95–96 Breakout

For the last three days, NZDJPY has been trading in a constrained range of 92.88 to 94.32. Yesterday, it reached 94.32; now, it is trading close to 93.99. The upward trend appears to be moving well if the support level at 92.80 remains stable.

Technicals

CMP -93.96

Trend

1- Hour chart

Value

 

 

55 EMA

93.98

CMP>value

Bullish

200- EMA

93.58

CMP >value

Bullish

365- EMA

93.21

CMP>value

Bullish

 Near-term resistance - 91.50/92.01/92.75/93. Near-term support- 91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bullish

-50.76

ADX

Neutral

 

 It is good to buy on dips around 93.58-60  with SL around 92.85 for a TP of 95/96.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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