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NZDJPY Technical Outlook: Bullish Momentum Drives Kiwi Toward 96.00 Target

As the New Zealand dollar gathers steam, NZDJPY climbs for the third straight dayYesterday it reached 94.18; today it is trading around 94.10. The upward trend looks to be proceeding nicely, provided the 92.90 support level remains firm.

Technicals

CMP -94.12

Trend

1- Hour chart

Value

 

 

55 EMA

93.82

CMP>value

Bullish

200- EMA

93.43

CMP >value

Bullish

365- EMA

93.07

CMP>value

Bullish

 Near-term resistance - 91.50/92.01/92.75/93. Near-term support- 91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bullish

93.87

ADX

Neutral

 

 It is good to buy on dips around 93.48-50 with SL around 92.75 for a TP of 95/96.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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