NZDJPY Poised to Pop: Buy-the-Dip Setup Above Key 90 Support

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.