Following a significant sell-off, NZDJPY increased by more than 150 pips. Yesterday, it dropped to 91.33; today, it is trading close to 92.90. The downward trend appears to be continuing unimpeded as long as the resistance level remains constant.
|
Technicals |
CMP -92.89 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
92.79 |
CMP> value |
Bullish |
|
200- EMA |
93.29 |
CMP <value |
Bearish |
|
365- EMA |
93.27 |
CMP< value |
Bearish |
Near-term resistance - 93.30/94/94.50/95/96. Near-term support- 93/92.70/91.80/91/90.50/89.
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
Neutral |
|
|
ADX |
Neutral |
|
It is good to sell on rallies around 93.48-50 with SL around 94.41 for a TP of 90.
