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NZDJPY Technical Outlook: Bullish Momentum Builds as Price Tests Key Support Levels

NZDJPY gained above 89 as the New Zealand dollar gained momentum. The uptrend seems to be leaning toward favorability if the 88 support holds.

Technicals

CMP-89

Trend

4- Hour chart

Value

 

 

55 EMA

88.80

CMP>value

Bullish

200- EMA

88.76

CMP <value

Bearish

365- EMA

89

CMP<value

Bearish

  1. EMA

89.96

CMP<Value

Bearish

 Near-term resistance - 89.20/89.60/90/90.80/91.25/91.80/92/92.30/93.20. Near-term support- 88/87/86.34.

Momentum indicator

Inference

Value

CCI(50)

Bullish

124

ADX

Neutral

 


It is good to buy on dips around 88.68-70 with SL around 88 for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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