NZDJPY Poised for Downtrend as Resistance Holds Firm

NZDJPY showed a minor pullback after a minor consolidation. If the 93.30  resistance holds, the downtrend appears to be trending toward favorability.

 

Technicals	CMP -94.85	Trend
4- Hour chart	Value
55 EMA	94.42	CMP>value	Bullish
200- EMA	93.88	CMP >value	Bullish
365- EMA	93.63	CMP>value	Bullish
EMA	92.95	CMP>Value	Bullish

 Near-term resistance - 95.20/95.50/96.25/97. Near-term support- 94.20/93.70/93.30/93/ 92.60/92/ 91/90.50/89.

Momentum indicator	Inference	Value
CCI(50)	Bullish	52.22
ADX	Neutral

 It is good to buy on dips around 94.20 with an SL around 93.30, for a TP of 97.