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NZDJPY Soars After RBNZ Surprise: Bulls Target 90 As Momentum Builds

NZDJPY gained more than 150 pips after the hawkish RBNZ rate cut. As long as support at 87.99 persists, the intraday trend is bullish. Yesterday, the pair hit a high of 89.21; it currently trades at about 89.08.

Oscillators and moving averages to forecast the trend of NZDJPY

CMP- 89.11

EMA (4-hour chart)

55-EMA- 88.42

200-EMA- 887

365-EMA- 87.80. The pair trades above the short (55 EMA)  and long-term moving average(200 and 365).

Major support- 88.40. Any breach below will drag the pair down to 8887.20/86.65/85.37/84.45/84.

Major resistance - 89.20. Any break above 89.25 confirms minor bullishness, a jump to 90/90.65/92.

Indicator (1-hour chart)

CCI (50)- bullish

Average directional movement Index- Bullish. All indicators confirm a bullish  trend.

It is good to buy on dips around 88.40-42 with SL around 87.70 for TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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