Trades NZDJPY flat with optimistic inclination over 90. As long as support at 90 holds, the intraday trend is positive. At 90.57, the couple hit an intraday low; it is now trading around 90.55.
Oscillators and moving averages to forecast the trend of NZDJPY
CMP- 90.55
EMA (4-hour chart)
55-EMA- 89.84
200-EMA- 88.64
365-EMA- 88.11. The pair trades above the short (55 EMA) and long-term moving average(200 and 365).
Major support- 90. Any breach below will drag the pair down to 89.30/88.70/88.40/87.99/87.20/86.65/85.37/85.
Major resistance - 90.80. Any break above 90.80 confirms minor bullishness, a jump to 91.39/92.
Indicator (4-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.
