NZDJPY showed a minor pullback on the weak yen. Intraday trend remains neutral as long as the resistance at 86.50 holds. It hit a low of 85.55 and is currently trading around 86.41. Overall bearish trend is intact as long as the resistance at 89.20 holds.
Technicals-
The pair is trading above 34 and 55 EMA, 200-EMA below 365 EMA in the 15-minute chart.
The near-term resistance is around 86.50, a breach above targets 86.81/87.70. The immediate support is at 86; any violation below will drag the pair to 85.50/85.10/84.06.
Indicator ( 15-min chart)
CCI (50)- Bullish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to sell on rallies around 86.38-40 with SL around 87 for TP of 84.
