NZDJPY Under Pressure: Bearish Outlook Amid Weak Kiwi Dollar and Key Levels to Watch

NZDJPY lost its shine on a weak  New Zealand dollar. The intraday trend remains bearish as long as the 87.50 resistance holds. Having reached a low of 86.15 yesterday, it now trades around 86.846.

Oscillators and moving averages to forecast the trend of NZDJPY

CMP- 86.846

EMA (4-hour chart)

55-EMA- 87.28

200-EMA- 87.66

365-EMA- 87.53. The pair trades below the short and below long-term moving average.

Major support- 86. Any breach below will drag the pair down to 85.37/84.45/84.

Major resistance - 87. Any break above 87 confirms minor bullishness, a jump to 87.50/88.10/89.

Indicator (1 hour chart)

CCI (50)- bearish

Average directional movement Index- Neutral. All indicators confirm a mixed trend.

It is good to sell on rallies around 87 with SL around 87.50 for TP of 86/85.37.