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NZDJPY: The Kiwi Yen's Bull Run Hits a Brick Wall at 92 — Sell the Rally?

NZDJPY pared most of its gains as the New Zealand dollar lost momentum. It reached an intraday low of 91.23, and it is presently near 91.294. The downtrend seems to be leaning toward favorability if the 92 resistance holds.

Technicals

CMP -91.262

Trend

4- Hour chart

Value

 

 

55 EMA

91.88

CMP<value

Bearish

200- EMA

92.60

CMP <value

Bearish

365- EMA

92.94

CMP<value

Bearish

 Near-term resistance - 91.85/92.20/92.70/93.25/93.62/94/94.40/95/95.50. Near-term support-  91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-108

ADX

Bearish

Strength increased from 37.76 to 39.44

 It is good to sell on rallies around  93.28-30 with SL around  94 for a TP of 91.80.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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