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NZDJPY Teeters on Edge: Bearish Bias Amid Mixed Signals

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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