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Sell the Bounce: NZDJPY Bearish Bias Persists Below 94.20, Eyes 90.50

Easing geopolitical tension helped NZDJPY exhibit a small pullback. It reached an intraday high of 93.46 and is now about 93.30. If the 94.20 resistance stays, the downtrend looks to be moving toward favorability.

Technicals

CMP -92.298

Trend

4- Hour chart

Value

 

 

55 EMA

93.48

CMP<value

Bearish

200- EMA

93.47

CMP <value

Bearish

365- EMA

93.21

CMP>value

Bullish

 Near-term resistance - 93.60/94/94.40/95/95.50/96.15/96.85/97.25. Near-term support- 92.40/91.80/91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-41.27

ADX

Neutral

 

 It is good to sell on rallies around  93.28-30 with SL around 94 for a TP of 90.50/90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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