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NZDJPY Technical Outlook: Bearish Momentum Favors "Sell on Rallies" Strategy Toward 90.00

NZDJPY trades flat with a negative bias. It reached an intraday low of 92.49 and is currently trading near 92.80. If the 94.40 resistance holds,  the downward trend seems to be going well.

 

Technicals

CMP -93.11

Trend

1- Hour chart

Value

 

 

55 EMA

93.03

CMP<value

Bearish

200- EMA

93.15

CMP <value

Bearish

365- EMA

93.19

CMP<value

Bearish

 Near-term resistance - 94/94.50/95/96. Near-term support- 92.45/91.80/91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bullish

82.15

ADX

Neutral

 

 It is good to sell on rallies around 93.58-60  with SL around 94.40 for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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