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NZDJPY: Yen Weakness Fuels Rise, Key Resistance at 92.40 Holds Key

NZDJPY  is trading higher on board-based Yen weakness. It reached a high of 91.65 yesterday, and it is presently near 91.515. The downtrend seems to be leaning toward favorability if the 92.40 resistance holds.

Technicals

CMP -91.60

Trend

1- Hour chart

Value

 

 

55 EMA

91.43

CMP>value

Bullish

200- EMA

91.85

CMP <value

Bearish

365- EMA

92.31

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)

Bullish

128

ADX

Bullish

Strength increased from 11.30 to 15.84

 It is good to sell on rallies around  91.78-80 with SL around  92.40 for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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