As the market waits for positive developments in the ceasefire negotiations, NZDJPY is trading flat with no discernible trend. It fell to an intraday low of 92.98 and is now trading around 93.19. The downward trend appears to be moving well if the 94.40 level of resistance remains stable.
|
Technicals |
CMP -93.19 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
92.99 |
CMP< value |
Bearish |
|
200- EMA |
93.07 |
CMP <value |
Bearish |
|
365- EMA |
93.13 |
CMP< value |
Bearish |
Near-term resistance - 93.60/94.50/95/96. Near-term support- 92.70/91.80/91/90.50/89.
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
Bearish |
-39.54 |
|
ADX |
Neutral |
|
It is good to sell on rallies around 93.38-40 with SL around 94 for a TP of 90.
